Following bitcoin’s rise to nearly $20,000 per unit, the value of the cryptocurrency fell to the $15,000 level, leaving some wary of what could come next. A Deutsche Bank economist said that a bitcoin crash could cause global markets to sink next year.
Here’s how they did:
Apple Inc. (AAPL)
Apple announced over the weekend that it has made advances in the budding self-driving vehicle industry.
Back in April, the company got a break as it was granted a permit to test self-driving cars in California, followed by a June announcement in which CEO Tim Cook said the company is developing a self-driving vehicle software.
Apple director of AI Ruslan Salakhutdinov said that the company has been using machine learning to analyze data coming from a vehicle’s cameras. He added that AI has helped the company develop a software that can detect pedestrians and cycling.
The software does so using LiDAR, which monitors lights and movements surrounding the vehicle. Salakhutidnov also demonstrated how the software could tell where pedestrians were even if parked cars were blocking its view.
Apple’s creation also uses a technology called SLAM that offers the software a sense of direction, thus helping it create more detailed maps of its surroundings. The technology is also used in map building and augmented reality.
AAPL stock is up 46.2% year-to-date.
BAE Systems PLC (ADR) (BAESY)
BAE Systems has inked a deal to sell fighter jets to Qatar.
The company had been in troubled waters as it was going to lay off some workers if it couldn’t sell planes, but its fortunes changed when Qatar ordered 24 Typhoon fighter jets for £5 billion ($6.7 billion).
The sale is the largest one by a UK exporter in a decade. However, the 2,000 job cuts announced by BAE in October will still go through as the sale will only help save jobs that haven’t already been cut.
Former UK defense secretary Michael Fallon announced the deal on a visit to Qatar in September. It is believed that Qatar made the acquisition for political reasons as the country is facing an economic blockade from four Gulf Arab rivals who accuse the country of terrorism.
BAESY shares have risen 3.7% YTD.
Boeing Co (BA)
Boeing is also executing its fair share of self-driving tests.
The aircraft maker is testing how well a self-driving nose wheel of a plane can work. The technology would essentially reduce the delays between the time a plane’s door shutters and when the aircraft pulls away.
The test is only happening with the Boeing 737NG at the moment. The self-driving nose wheel will be equipped with electronic motors that help power the plane’s auxiliary power unit.
The idea of running a self-driving nose is one way to cut down travel time, as it would help travelers reach their destinations quicker. The new nose wheel allows the plane to move backward and forward under the direct control of the pilot.
BA shares have soared 83.7% YTD.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.