Kering recently issued a profit warning after Gucci experienced a nearly 20% decline in sales. This decrease in revenue from their key brand led to concerns about the overall financial performance of the luxury goods group. The company’s stock fell sharply in response to the news, highlighting the potential impact of Gucci’s sales on Kering’s bottom line.
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Peter Hargreaves’ Blue Whale sells major tech stocks over AI concerns
Blue Whale Growth, managed by Stephen Yiu, has reduced exposure to major US tech companies like Microsoft due to concerns over their hefty investments in AI infrastructure. Yiu has aggressively sold shares in Microsoft, pushing it out of the top 10 holdings for the first time since 2017. Blue Whale has seen success, returning 24% this year, with a significant stake in Nvidia and concerns over the financial performances of other Magnificent Seven tech giants...
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