😘 Apple wants a minute with Meta

Apple is considering joining forces with Meta to achieve its AI aims | Copper prices are slipping, but maybe not for long | [Finimize](   TOGETHER WITH     Hi {NAME}, here's what you need to know for June 25th in 3:11 minutes.   🔑 Tech makes the impossible seem possible, whether it's self-filling fridges or rare-ailment-curing medicine. So join us for [How AI Can Help You Invest Like The Wealthy]( on Tuesday, and find out how today's tools can update your portfolio. [Grab your free ticket]( Today's big stories - Apple and Meta seemingly put the past behind them to talk about collaborating - This investing adage could actually be dragging down your returns – [Read Now]( - Optimistic traders sent copper prices through the roof, but now the metal is starting to pick up dust Passion Project [Passion Project] What’s going on here? Apple has reportedly been considering [integrating]( Meta’s Llama 3 AI model into its products, proving that there’s a thin line between love and hate. What does this mean? Apple has tinkered with its own AI models. But determined to catch up to its more technologically able rivals, the company is partnering up to access more sophisticated ones. Apple’s already buddied up with OpenAI’s ChatGPT, and this latest move would see Meta’s AI service used in iPhones and the like. Apple’s also been chatting to Google, Anthropic, and Perplexity. If those plans pan out, the firm will save billions in development costs, while still being able to offer customers a range of AI models and services. It’s a smart move for Apple to keep its options open, as no one knows which model will be the market leader in five or ten years. Why should I care? For markets: Competitors become collaborators. Apple and Meta have had it out before, even taking fights around privacy settings and advertising dollars to court. But clearly, a mutually beneficial agreement is enough to make them bury the hatchet. See, Apple wants other companies to offer it their AI models for free. In return, partners would get their names in the roughly two billion active Apple devices around the world. On top of that, if any AI providers can sell premium versions of their services, Apple would take a cut of the subscriptions. The bigger picture: Tied up in knots. Beyond the US, the picture is a bit murkier for Apple. ChatGPT isn’t available in China – a massive market for tech companies – so the firm is looking for a local partner in the country. And in Europe, Apple is concerned about complying with the region’s Digital Markets Act, which it says would reduce the security of its products and services. So much so, in fact, that the company plans to withhold its AI offering, Apple Intelligence, in Europe this year. You might also like: [Nvidia’s just the start: Goldman says the AI boom will have four phases.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Passion Project&utm_campaign=daily-global-25-06-2024&utm_source=email) Analyst Take That Old Diversification Advice Could Be Hurting Your Returns [That Old Diversification Advice Could Be Hurting Your Returns]( By Theodora Lee Joseph, CFA, Analyst Conventional wisdom would tell you to ditch your home bias and [go global]( with your investments – because there are fantastic businesses everywhere. And when you look [beyond your borders](, you can diversify your portfolio and potentially boost its returns. Mind you, that theory is under a [serious stress test]( now, especially among US investors. The [S&P 500’s dominance]( over the past decade makes it seem awfully unappealing to look elsewhere. But before you toss out the whole idea, here are [a few things]( you should consider. That’s today’s Insight: [how to diversify your portfolio, without suffocating it](. [Read or listen to the Insight here]( SPONSORED BY STREETBEAT Not everything in finance has to be complicated If you work in finance, you’re probably faced with a ton of difficult decisions day in, day out. So [Streetbeat]( is making one choice easier, by building an [AI-powered platform]( that’s essentially a one-stop shop for finance professionals. StreetbeatPRO’s [AI agents]( are available 24/7, and they’re designed to simplify – sometimes even eliminate – your business tasks. The platform integrates [real-time stock data, alternative data sets, and customer information]( to automate processes, so you can work more efficiently and glean better customer insights. StreetbeatPRO’s cost-effective, easy-to-implement tools are designed to keep things simple – on the surface, anyway. [See how it could change your days, and your business, for the better.]( [Find Out More]( Streetbeat, LLC ("Streetbeat") is an SEC-registered investment adviser. All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Any historical returns, expected returns or probability projections are hypothetical and may not reflect actual future performance. See Terms and Conditions at [Streetbeat.com](. When you support our sponsors, you support us. Thanks for that. If you want your brand featured here, [get in touch.]( Test The Mettle [Test The Mettle] What’s going on here? Copper prices have [started]( falling from their record highs, as Chinese buyers saw their resilience challenged. What does this mean? Copper hit a record high of $11,100 a ton last month, fueled by optimistic investors betting that the generally high-in-demand metal would stay scarce and, in turn, expensive. But while copper’s price is still relatively lofty, it has dropped nearly 13% from that peak. That’s because Chinese buyers are contending with stalling property and industrial sectors, so they don’t need to stock up on so much of the shiny stuff. As a result, warehouses in the country are full of unsold copper, marking the biggest surplus in four years. And as the golden rule goes, the more there is of something, the cheaper it tends to be. Why should I care? Zooming out: Welcome to the new world. China usually accounts for more than half of global copper demand. So if the country’s buyers resume their old habits, some traders believe we’ll see a new record price later in the year. But if not, that might signal serious demand issues, which could send the metal’s price down even further. Look further ahead, though, and there will be more influences at play. The global shift toward clean energy should push up demand, as extra copper will be used to bolster the infrastructure around transport electrification, 5G, and AI. The bigger picture: The surplus won’t last. Unless billions are thrown into production, there might not be enough copper to go around in the years ahead. One hedge fund is even predicting that prices could hit $40,000 in that case. That would be the cue for stocked-up Chinese suppliers to sell their lot. And the mere prospect explains why mining company BHP wants to snap up rival Anglo American, eager to cover more copper-covered ground. You might also like: [Copper could be the next big AI play.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Test The Mettle&utm_campaign=daily-global-25-06-2024&utm_source=email) 💬 Quote of the day "Where the willingness is great, the difficulties cannot be great." — Niccolo Machiavelli (an Italian author) [Tweet this]( 💖 Meet your perfect match No, we haven't started a dating website. We're also not official promotional partners of Netflix's latest reality TV show (despite the many hours we've spent glued to it). See, our [one-million-strong community]( is full of active investors, eager to discover new tricks and tools to increase their net worth. So if you're looking to [promote a product or service]( related to finance, we think you could really hit it off. [Drop us a line to talk about partnerships](. [Talk To The Team]( 🌳 Don’t Miss The Forest For The Trees When you’re too nose-deep in market data, fixated on every tiny twitch in the inflation rate, it’s easy to miss [the wider view](. 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Thanks for that. 🤔 Q&A · [RE: Uncertainty Has China In A Rush For Gold]( When it comes to rare metals, how much of their future outlook is influenced by the balance of supply and demand, versus the amount of speculation from hedge funds? – Felix, The Netherlands Of the many rare metals in the world, gold, silver, platinum, and palladium are the easiest ones to trade on financial markets. As a result, they tend to attract the most attention from hedge funds. Supply is impacted by the rates of mining and production, as well as any ongoing technological advancements and changes in geopolitical stability. Demand for physical rare metals can be driven by factors including investment by central banks, jewelry sales, and industrial demand for electronics. You’re right to say that hedge funds will speculate on metal prices, Felix. Thing is, they primarily trade futures and exchange-traded funds to do so. That means they have limited activity in the physical market. So while their speculative behavior can impact prices in the short term, it has much less impact over the longer term. [Finimize] 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=I have a question Finimize!&utm_campaign=daily-global-25-06-2024&utm_source=email) 🌍 Finimize Live 🤩 Coming up soon... All events in UK time.🤑 [How AI Can Help You Invest Like The Wealthy](: 5pm, June 25th 🗳️ [Election Special: What Investors Need To Know Before Voting](: 12pm, July 3rd 🏔️ [Gaining An Edge Beyond ETFs](: 8pm, July 9th 💃🏼 [Finimize Ladies Investing Club:]( 6.30pm, July 18th 💰[How To Invest Like A Modern Warren Buffett:]( 5pm, Aug 14th 🚀 [2024 Modern Investor Summit](: 2pm, December 3rd ❤️ Share with a friend Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. You stay classy, {NAME} 😉 We’d love to hear your thoughts. 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