Monthly Archives: May 2023

ED Proposes Title IX Athletics Rule Requiring Participation Based … – The Federalist Society

Posted: May 6, 2023 at 3:17 pm

On April 13, 2023, the Department of Education (ED) issued a notice of proposed rulemaking (NPRM) titled Nondiscrimination on the Basis of Sex in Education Programs or Activities Receiving Federal Financial Assistance: Sex-Related Eligibility Criteria for Male and Female Athletic Teams. This Athletics NPRM would establish a new regulatory standard under Title IX that would govern sex-related criteria as it relates to gender identity for participation on sex-specific athletics teams at federally funded educational institutions. The 32-day public comment period closes on Monday, May 15.

In July 2022, when ED issued a proposed Title IX rule that would expand Title IXs sex discrimination prohibition to prohibit discrimination based on gender identity (among other things), the Department promised it would issue a separate NPRM to address whether and how ED should amend its current athletics regulation and the question of what criteria, if any, recipients should be permitted to use to establish students eligibility to participate on a particular male or female athletics team.

Proposed Regulatory Standard

Under the current athletics regulation, originally promulgated in 1980, educational institutions may operate or sponsor separate teams for members of each sex where selection for such teams is based upon competitive skill or the activity involved is a contact sport.

According to ED, the current athletics regulation isnt sufficiently clear to ensure Title IXs nondiscrimination requirement is satisfied. The proposed regulatory standard would provide needed clarity and would not affect a recipients discretion to offer sex-specific teams based on competitive skill or for contact sports.

Citing to Bostock v. Clayton County, Executive Order 13988 on Preventing and Combating Discrimination on the Basis of Gender Identity or Sexual Orientation, Executive Order 14021 on Guaranteeing an Educational Environment Free from Discrimination on the Basis of Sex, Including Sexual Orientation or Gender Identity, the Department proposes the following regulatory text:

If a recipient adopts or applies sex- related criteria that would limit or deny a students eligibility to participate on a male or female team consistent with their gender identity, such criteria must, for each sport, level of competition, and grade or education level: (i) Be substantially related to the achievement of an important educational objective; and (ii) Minimize harms to students whose opportunity to participate on a male or female team consistent with their gender identity would be limited or denied.

In crafting its proposal, ED conducted an extensive review of Title IXs implementing regulations, statutory text, and legislative history; federal and state case law (including Hecox v. Little, A.M. v. Indianapolis Public Schools, and B.P.J. v. West Virginia State Board of Education); relevant state laws; current athletic policies; public comments received during a June 2021 nationwide virtual public hearing on Title IX; and other information provided by stakeholders.

According to the NPRM, the proposed standard was informed by the current Title IX regulation governing single-sex classes and Equal Protection Clause caselaw, and is consistent with Title IXs nondiscrimination prohibition and the framework of the current athletics regulations.

Criteria for Each Sport, Level of Competition, and Grade or Education Level

Under the proposed regulatory standard, any sex-specific policy that does not permit participation based on gender identity would have to be evaluated based on (a) sport, (b) level of competition, and (c) the grade or education level. Indeed, the NPRM states that criteria that categorically exclude all transgender girls and women from participating on any female athletic teams would not satisfy the proposed standard because they would take a one-size-fits-all approach and rely on overbroad generalizations that are not specific to the sport, level of competition, and grade or education level to which they apply.

Without elaboration, the Department declares that it currently believes there are few, if any, sex-related eligibility criteria applicable to students in elementary school that would comply with the proposed standard. ED further believes it would also be particularly difficult for a policy that excludes students immediately following elementary school from participating on sex-specific teams consistent with their gender identity to comply with the standard. If adopted, this view would likely undermine any sex-specific distinctions for athletics in elementary schools.

Even in high schools and colleges, the level of evaluation required under the NPRM places an onerous burden on recipients seeking to adopt any sex-specific policy based on biology and provides a large incentive to adopt a blanket policy allowing participation based on gender identity for all sex-specific athletic teams.

Nevertheless, ED anticipates that some uses of sex-related eligibility criteria would satisfy the proposed standard in some sports, grade and education levels, and levels of competition (emphasis added).

Substantially Related to the Achievement of an Important Educational Objective

Under the proposed regulatory standard, any sex-specific policy must be based on a direct, substantial relationship between a recipients objective and the means used to achieve that objective.

ED acknowledges that ensuring fairness in competition and prevention of sports-related injury are possible important educational objectives, but is quick to point that that those interests do not necessarily require schools to adopt or apply sex-related criteria that would limit or deny a students eligibility to participate on a male or female team consistent with their gender identity. The NPRM points to alternative strategies and mitigating measures that could be taken instead, such as appropriate coaching and training, requiring use of protective equipment, and specifying rules of play.

According to the Department, the following would not qualify as an important educational objective:

Communicating or codifying disapproval of a student or a students gender identity;

Adoption solely for the purpose of excluding transgender students from sports;

Requiring adherence to sex stereotypes;

Adoption solely for the purpose of administrative convenience; or

As a pretext for an impermissible interest in singling out transgender students for disapproval or harm.

The NPRM emphasizes that any criteria must not rely on overly broad generalizations about male and female students talents, capacities, or preferences, noting that very few female student-athletes are transgender and transgender students do not necessarily have greater physical or athletic ability than cisgender students that would affect cisgender students equal opportunity to participate. As such, criteria that assume all transgender girls and women possess an unfair physical advantage over cisgender girls and women in every sport, level of competition, and grade or education level would rely on an impermissible generalization.

Benefits, Harms, and Costs

ED identifies two benefits of its proposal: (i) providing a standard to clarify Title IX obligations for recipients that adopt or apply sex-related eligibility criteria, and (ii) protecting students equal opportunity to participate on male and female teams consistent with Title IX.

Without the proposed regulation, ED claims some students may suffer harm as a result of being unable to gain the benefits associated with equal opportunity to participate on athletic teams at school because participation on a team inconsistent with a students gender identity is not a viable option for many students. No mention is made of any harm to other students, especially female athletes who could be denied equal opportunity to participate under the Departments proposal.

ED estimates that the cost to recipients over 10 years would be in the range of $23.4 million to $24.4 million, which seems low considering the number of schools that receive federal funding, the time needed to evaluate existing athletic policies for compliance, and the regular trainings on the policies.

Nevertheless, ED concludes that the benefits far outweigh the costs.

Federalism Concerns

As recognized in the NPRM, at least twenty states have passed laws that prevent biological males, regardless of how they identify, from joining female-specific athletic teams.

The Department acknowledges (without elaboration) that its proposal may have federalism implications or substantial direct effects on the states or the relationship between stated and the federal government. It is clear that the proposed regulation conflicts with state laws, setting up a legal battle between ED and those states if and when the proposed rule is finalized.

Opportunity for Public Comment

ED is accepting public comments on the Athletics NPRM until Monday, May 15, which can be submitted here. To learn more about public comments on agency rulemaking, see the Ethics and Public Policy Centers one-page explainer.

Note from the Editor: The Federalist Society takes no positions on particular legal and public policy matters. Any expressions of opinion are those of the author. To join the debate, please email us atinfo@fedsoc.org.

ED Proposes Title IX Athletics Rule Requiring Participation Based ... - The Federalist Society

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The Mysterious Case of the Imposition of Article 355 in Manipur – The Wire

Posted: at 3:17 pm

During a press conference to update members of the press on the ongoing situation in Manipur, the head of Manipurs state police made an unusual statement. According to the officer, Article 355 of the Indian Constitution was imposed in the state, and as a result, the Union government assigned a security advisor to the state government.

What is Article 355, and how is it imposed under the Indian Constitution?

Article 355 is found in part XVIII of the Indian constitution which contains emergency provisions that are meant to be used in extremely rare circumstances. This section of the constitution empowers the Union government to declare a state of emergency (through Article 352) or, in other cases, Presidents Rule in a particular state of the Union (through Article 356).

355. It shall be the duty of the Union to protect every State against external aggression and internal disturbance and to ensure that the Government of every State is carried on in accordance with the provisions of this Constitution.

A study of the bare provision of Article 355 reveals that it imposes a duty on the Union government to protect states in the event of external aggression and internal disturbance. The article also requires the Union government to ensure that the government of each state in the Union is carried on in accordance with the provisions of this constitution.

To understand the scope of Article 355s application, we need to examine the intention of the constitutions drafters when they decided to include this article in it.

Article 355, as it currently exists, was not in the 1948 draft constitution, and was only added in September 1949 (as draft Article 277A). It was inserted with the objective of providing a legitimate ground for the application of Article 356 of the constitution, which allows the Union government to issue a proclamation of Presidents Rule in a specific state.

Because imposing Presidents Rule in a state is considered an extreme measure, the drafters of the constitution felt this insertion was necessary. It is thought to be so because it has the effect of removing a states ability to govern itself. It is important to note that when Presidents Rule is proclaimed in a particular state, the Union government assumes the authority to govern that state, including the ability to make decisions that would normally be made by the state government. Furthermore, the imposition of Presidents Rule transfers powers from a states legislative assembly to the national parliament.

Because the drafters of the constitution recognised the broad power vested in Article 356, it was thought necessary to include another article to ensure that the imposition of Article 356 would not be viewed as an arbitrary exercise of the Union governments authority. Because of this recognition, the drafting committee inserted Article 355 into the constitution.

For these reasons, it is clear that the constitution contemplates the imposition of Article 356 as flowing from the duty imposed on the Union government by Article 355.

Circumstances under which Article 355 can be used

The constituent assembly debates show that the drafters of the constitution were concerned about the abuse of the emergency provisions in Part XVIII of the constitution. In one instance, Dr. B. R. Ambedkar is quoted as saying that the powers granted by Articles 355 and 356 should be used with caution. He stated during a debate of the constituent assembly in August 1949 that the proper thing we ought to expect is that such articles will never be called into operation and that they would remain a dead letter. If at all, they are brought into operation, I hope the president, who is endowed with all these powers, will take proper precautions before actually suspending the administration of the provinces.

As a result, it is understood that emergency provisions, such as Articles 355 and 356 of the constitution, can only be imposed in emergent situations. This appreciation has ensured that the provisions in Part XVIII of the constitution include constitutional safeguards that help ensure they are not abused arbitrarily by authoritarian actions from New Delhi. When these safeguards are violated, citizens have the right to petition the courts to test those actions against the principles enshrined in the constitution.

The mysterious case of application of Article 355 in Manipur

Given this understanding of Article 355 and the scope of its application, it is important to consider whether the article can be independently applied by the Union government in a specific circumstance.

In the past, courts have ruled on the constitutionality of legislation based on an examination of the duty imposed on the Union government by Article 355. This includes the cases of Naga Peoples Human Rights Movement v. Union of India (1997) and Sarbananda Sonowal v. Union of India (2005).

However, it is important to consider the argument that the Union government cannot use Article 355s independent application to intervene in matters that fall under the purview of a state government. This argument is supported, in particular, by Justice Sawants opinion in S. R. Bommai v. Union of India (1994). Justice Sawants opinion held that the duty conferred on the Union government by Article 355 is a justification for the imposition of Articles 356 and 357, rather than an independent source of power that the Union government can use to interfere with the functioning of a state government. Instances such as the one in Manipur therefore present a questionable application of Article 355.

The argument is further supported by the constitutions recognition of Indias federal character. It is important to keep in mind that allowing the Union government to use Article 355 on its own to intervene in the domain of a state government would be detrimental to federalism in the long run.

To make matters worse, the imposition of Article 355 in Manipur is particularly troubling due to how this was communicated to the public. An elected MLA a member of the ruling party tweeted that Article 355 had been implemented in the state, which was an indication that it had been imposed. Following that, the head of the state police suggested during a press conference that Article 355 was imposed.

It is important to note that, as of late Saturday night, no formal order has been issued by the Union government to impose or invoke Article 355 in Manipur. This opens up two possibilities. Either the statements made by the two responsible public officials are incorrect, or the Union government secretly imposed Article 355 in the state without making the decision public. If the latter is correct, it raises serious concerns because such a decision, made in the absence of a legal, published announcement, may be considered unlawful.

Much remains to be seen in the development of this case, and it is critical that we pay close attention to how it develops, given the broad implications for our democratic society.

Jade Lyngdoh is a Constitutional Law honours candidate at National Law University, Jodhpur, where he has been a Meta India Tech Scholar. He contributes to The Wire, and is interested in the intersection of technology law and policy and human rights.

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Non-BJP State Governments Not Exercising Accountability, Allowing … – Daily Excelsior

Posted: at 3:17 pm

Jalandhar (Pb), May 6: Union minister Jitendra Singh on Saturday claimed non-BJP state governments are not exercising accountability and allowing pilferage and wastage of central funds.Addressing a press conference here as part of campaigning for the by-poll, he said the Bhagwant Mann-led Punjab government has been accusing the Centre of holding back funds for the state.However, the matter of fact is that the earlier grants obtained by the state government from the Centre were never utilised for the purpose for which they were meant, Singh, the Minister of State for Personnel, said.The central grants were used for their own priorities, and now for the release of further funds from the Centre when utilisation certificates (UCs) are being sought, they are unable to produce the same, he added.Many of the central grants instead of being used for development projects are being used for self-publicity through advertisements in newspapers and other media, and for organising extravagant programmes for the publicity of the AAP leaders, the minister said.Singh said non-BJP state governments are not exercising accountability, whereas in BJP-ruled states, there is absolute accountability and answerability to the central high command and Prime Minister Narendra Modis welfare schemes are seriously followed up and accounted for.Drawing another parallel, he said in the non-BJP states, not only do they allow the pilferage and wastage of central funds, but the schemes are also not implemented seriously, and they do not hold themselves accountable.The Union minister also expressed concern about growing lawlessness and state of anarchy in the state of Punjab, and vowed that the Bharatiya Janata Party (BJP) is committed to restore the ethos of brotherhood, nationalism and mutual harmony among the people in the state.Talking about the Delhi government, Singh said nothing can be more unfortunate than the fact with the Aam Aadmi Party (AAP) ruling the city, nearly three or four ministers are behind bars facing CBI and ED charges of corruption and misappropriation of funds.He said Modi had envisioned developing such an administrative ecosystem for a developed India, which has zero-tolerance for corruption, but the AAP-led government in the state of Punjab has been creating roadblocks towards creating such a corruption free ecosystem by delaying implementation of transformative reforms undertaken by the BJP-led central government.He said it is in the interest of the people to benefit from the central funds which are very meticulously provided by the Modi government.The Modi government has always followed the policy of cooperative federalism and also increased the state government share of funds. This is quite in contrast to what was happening during the UPA-run central government where the Gujarat government led by the BJP was always put to all kinds of intimidation and harassment by the then UPA-led central government and false CBI cases were filed which later could not be proved, the minister added. (Agencies)

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Two years of Stalin government in Tamil Nadu: Two steps forward – Times of India

Posted: at 3:17 pm

On a pleasant Sunday morning last August, The Times of Indias Happy Streets on Anna Nagar Second Avenue had an important visitor. Just when the first beams of the rising sun filtered through the canopy of the avenue trees, chief minister M K Stalin joined people who sang, danced and played games on the road. Wearing a red T-shirt, tracks and sneakers, Stalin walked and cycled the stretch, shaking hands with residents, playing table tennis and badminton with them, and giving them fitness tips. I wake up at 5am, he told them. I stay young because I exercise. Two months later, Stalin told the DMK general council that he was having sleepless nights. I wake up with the worrying thought of whether our party seniors, cadres or ministers have said or done something wrong. This is giving me sleepless nights. That must be tough on a chief minister who wakes up early for day-long exercises that are more than physical. Its not the opposition, the governor or the Centre thats giving Stalin a headache; his pain points are within his party and the government. On the governance front, Stalin has made some definitive strides. He has let his finance minister Palanivel Thiaga Rajan to adopt some strong and unpopular fiscal measures to salvage the states economy and put it on the road to the one trillion-dollar Tamil Nadu destination. While powering this journey are the engines of manufacturing automobiles, electric vehicles, footwear, textiles and information technology/ startups, the governments policy seems to ensure that the vehicle of growth goes beyond the capital city to provide jobs and opportunities for smaller towns and the states hinterlands.The governments policies and programmes to take education and health to the peoples doorsteps have made a good start, the chief ministers public outreach programme has set an example for his ministers. While continuing with some coffer-draining doles, the government has been able to keep its focus on welfare measures. But this will be a trickier job when it moves into the third year that demands further fiscal discipline, and the next two when the ruling DMK prepares for another election. On the political front, the opposition AIADMK has not been much of a problem for the ruling party, but it has been spending more time on verbal duels with the governor and the Centre defending its Dravidian model of governance and federalism. The national social justice movement, which Stalin seeks to lead, would be a front that pushes this agenda. Stalins bigger problems have come from his own flank. Some of the government moves such as amending labour and liquor rules backfired (some blame the bureaucracy for it). Dealing blows to the partys attempts at an image makeover, a minister slapped a party councillor in public, another threw a stone at a party member who delayed bringing him a chair, many others have made speeches that embarrassed Stalin. Just when he thought he had disciplined the rogue elements came the PTR tapes audio recordings that BJP state president K Annamalai released that implicated the finance minister as speaking about the chief ministers family members son Udhayanidhi and son-in-law Sabareesan amassing wealth. The authenticity of the tapes may never be proved, but they have triggered discussions on corruption. Good governance will let Stalin bask in the glory of his governments performance as he faces the next election, but anything wrong done by anyone in the system will also fall on him. If it doesnt rain, I will be blamed, Stalin said at the October general council meeting of the DMK. As the opposition waits for its thunder, Stalin can expect a flood of allegations. As he sets sail towards the coming years, Stalin may not be able to stop the rain, but he should be able to plug the leaks.

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Two years of Stalin government in Tamil Nadu: Two steps forward - Times of India

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Apple Stock and Big Tech Are Winners. Why Cathie Wood’s ARK Is Still a Loser. – Barron’s

Posted: May 4, 2023 at 12:17 pm

Big Tech is almost single-handedly responsible for the markets rally this year. Yet the band of winners is so narrow plenty of tech plays have also been left in the dust.

We can question how far those rallies can go, but its clear that Big Tech is benefiting from relative immunity to the banking worries that have shaken investors lately. Investors have also appreciated tech companies beating lowered earnings expectations.

Big rallies like those enjoyed by companies like Microsoft post-results stand out at a time when, on average, companies reporting top- and bottom-line beats are outperforming the market by just 0.1% this quarter, well below the 1.7% average historical outperformance, according to Credit Suisse.

Unfortunately, unlike a rising tide lifting all boats, Big Techs surge has largely been self-contained. Using Cathie Woods ARK Innovation exchange-traded fund (ARKK) as a proxy for the more-speculative basket of tech stocks, DataTrek co-founder Jessica Rabe notes that it continues to underperform the Nasdaqs dot-com bubble meltdown during the early 2000s.

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As Rabe writes, today makes 558 days since ARKKs all-time high in February 2021, and since then the fund has slumped 78%, roughly mirroring the Nasdaq Composite indexs peak-to-trough tumble just over two decades ago: In the 2000-2002 time frame, the index tumbled 69% from its March 2000 high water mark.

However painful that decline, it didnt mark the end. After day 558 of the Nasdaqs dot-com implosion, it still fell another 29%. In the end, it would be nearly two and a half years before the Nasdaq found a bottom, in October 2002.

Likewise, Rabe highlights that ARKKs early year-to-date gains have been largely erased, hinting that more pain could come. The ETF raced ahead of the broader market in January, but is down 22% since early February; that temporary reprieve is attributable to the January Effect as tax-loss selling abated after many of its holdings got crushed in 2022, she writes.

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Therefore, she notes that even though ARKK has already suffered the same decline as the Nasdaq did during its 2000-2002 bear market, if it also ultimately matches its time frame, the fund could keep struggling through early September, given the dot-com busts long, slow deflation. In addition, ARKKs highly concentrated portfoliowith just 28 holdingsmeans its dependent on more-speculative tech names to replicate the success in Big Tech; that stands in contrast to the Nasdaqs diversified set of components.

If nothing else, the Nasdaqs experience shows ARKK needs a catalyst to find a bottom, such as more certainty about the macroeconomic environment, Rabe concludes, particularly as the market has gravitated more toward less risky tech bets. Whether or not Block (SQ) and Teladoc Health (TDOC)two of ARKKs top-10 holdingssucceed over the next decade is a much-more-difficult call than Microsoft or Apple in the early 2000s.

Write to Teresa Rivas at teresa.rivas@barrons.com

Apple Stock and Big Tech Are Winners. Why Cathie Wood's ARK Is Still a Loser. - Barron's

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White House officials will meet Big Tech CEOs as President Biden looks to tackle AI safety concerns – Yahoo Canada Finance

Posted: at 12:17 pm

White officials will sit down with CEOs from several tech companies.AP Photo/Susan Walsh

White House officials will discuss AI development with CEOs from Microsoft and OpenAI, among others.

The meeting comes amid growing concerns around advanced AI safety.

The administration announced several plans to tackle the potential implications of the tech.

White House officials, including Vice President Kamala Harris, are set to meet Big Tech CEOs at the White House as concerns grow over AI safety.

The officials will meet with leaders at the forefront of advanced AI development, including the chief executives of Alphabet, Anthropic, Microsoft, and OpenAI, per a White House fact sheet.

The invitation to the CEOs, which was viewed by Reuters, noted President Joe Biden's expectation that such companies "must make sure their products are safe before making them available to the public."

The meeting is part of a broader attempt by the administration to address issues around advanced AI. Public scrutiny of the technology has grown since OpenAI's viral ChatGPT appeared to spark the release of several other AI products.

Several countries are looking to introduce new regulations for the powerful technology. The European Union, for example, is pushing ahead with a proposed AI Act the first law on AIby a major regulator.

The fact sheet, which was released on Thursday, announced several plans to tackle the potential implications of the tech. The announcements included independent public assessments of existing generative AI systems and $140 million in funding to launch new AI research institutes.

The administration said AI developers, including Anthropic, Google, Hugging Face, Microsoft, NVIDIA, OpenAI, and Stability AI, had committed to participate in a public evaluation of AI systems at the AI Village at DEF CON 31.

The fact sheet noted President Biden had "been clear that when it comes to AI" that people and communities must be at the center of innovation and society must be protected.

The administration also said it was actively working to address national security concerns raised by AI, especially in critical areas like cybersecurity, biosecurity, and safety.

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White House officials will meet Big Tech CEOs as President Biden looks to tackle AI safety concerns - Yahoo Canada Finance

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The top 10 buzziest companies Gen Z wants to work fornone of them are in Big Tech, says new report – CNBC

Posted: at 12:17 pm

Alvarez | E+ | Getty Images

The graduating class of 2023's desire for stability in an uncertain economy is dictating where they want to work most after college.

It's hard to escape unrelenting news of tech layoffs in recent months, including major staff cuts from Meta, Google, Amazon, Microsoft and many others. As a result, zero Big Tech companies are among the trending employers Gen Z college grads are most interested in working for this year, according to the latest report from Handshake, the college and new-grad career site, which analyzed search traffic on the platform in the last year and surveyed 954 students from the class of 2023.

This year's graduating class is "prioritizing stability, and they're quite turned off by the volatility they've seen in the news around Big Tech," Christine Cruzvergara, Handshake's chief education strategy officer, tells CNBC Make It. "They're gravitating toward companies that offer solid benefits, career pathing and a level of stability they've been looking for."

Here are the top 10 companies that saw the fastest growth in search interest on Handshake in the last year:

While search traffic from 2023 grads for major tech brands is down 15% compared to the class of 2022, interest and applications are up for jobs in retail, finance and manufacturing.

"Some of the luster has definitely come off" of Big Tech jobs, Cruzvergara adds and "this class is willing to look at tried and true companies that have stood the test of time."

That's true for Wes Yates, 21, a senior at the Embry-Riddle Aeronautical University in Daytona, Fla., who'll soon move to Tucson, Ariz., to start his first post-graduation job with Raytheon soon. He learned the company had several roles open thanks to Handshake and, after just about two weeks of interviews, landed a full-time job offer by October.

Wes Yates, 21, is a graduating senior at Embry-Riddle Aeronautical University and quickly landed a job offer with Raytheon in October.

Courtesy of Wes Yates

His biggest priorities in finding a job after college were financial security to pay off his student loans, as well as job security, which he believes he'll find in the defense industry. Given his aeronautics background, he says other employers like Lockheed Martin and Boeing also on Handshake's shortlist of desirable employers were also on his radar for himself and among his peers.

Raytheon's ability to provide stability has been a big hiring asset, especially among some of the newest entrants to the labor force, says Steve Schultz, the company's global head of talent acquisition. Raytheon is the biggest employer in Tucson, with more than 13,000 workers atits main manufacturing campus at Tucson International Airport.

He says roughly a quarter of the company's new hires come from the new or recent college grad demographic a share that's grown in recent years.

Though search interest for major tech companies dropped, Cruzvergara says today's grads are more likely than their predecessors to be interested in jobs that require tech skills. So "while the companies on this list might not be considered a tech employer, it's become an opportunity for these types of employers to hire great tech talent," she says. "The reality is, every company today is a tech company."

New college grads feel confident they have the skills they need to get the job they want but also plan to develop new tech skills on the job or after hours. Looking ahead, a majority, 60%, say generative artificial intelligence tools will impact their fields in the next decade, but 40% aren't worried it will actually have an impact on their own career.

A recent Stanford and MIT study found generative AI boosted productivity by up to 35% for new workers with less experience, and by 14% among all workers.

"I don't think the generative AI is going to replace workers, but workers who work with generative AI will replace those who don't," says Erik Brynjolfsson, the director of the Digital Economy Lab at the Stanford Institute for Human-Centered AI, and co-author on the report.

As major tech players take an employer branding hit, Cruzvergara predicts future college grads will care more about employers that are dedicated to helping solve the climate crisis.

In the meantime, the class of 2023 is more anxious than previous classes about their prospects in a turbulent job market where new layoff announcements seem to come out by the day.

Nearly half, 47%, of 2023 grads say they're applying to more jobs in response to news about the economy. The average 2023 grad is applying to 14 jobs after college, up from the average 11 among 2022 grads.

And a majority, 71%, say they're willing to move to a different city for the right job opportunity.

Applications are up by 20% in Chicago, 15% in Dallas and 12% in Atlanta compared to the year prior, which Cruzvergara says could be in response to new grads hoping to beat inflation and find more affordable areas to start their post-college lives.

Young professionals also see the appeal of reporting to an office at lest some of the time as a key part of advancing their early careers: 72% want a hybrid job, 16% want a fully remote job, and 12% want to be fully onsite.

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Apple Reports Earnings Today. What to Expect. – Barron’s

Posted: at 12:17 pm

Apple is set to close out Big Tech earnings Thursday after the market closes. The iPhone maker is expected to report another year-over-year sales decline for the March quarter.

Shares of Apple (ticker: AAPL) have soared nearly 31% in 2023, though the stock is up just 2.4% over the past 12 months. The S&P 500 is up 7.7% this year and down 3.9% in the past 12 months.

So far, Big Tech earnings have been fairly positive. Reports from Microsoft (MSFT), Alphabet (GOOGL), and Meta Platforms (META) were mostly well received by Wall Street. Amazon.com s results topped estimates but a weak outlook around the cloud sent shares falling. Apple investors are hoping the firm follows in Microsofts footsteps, and not Amazons.

WithBigTechshowing impressive resiliency during earnings season the last few weeks now the baton is handed to Cook as investors all look towards Apples Thursday night print/guidance with thetechfinale on 1Q, Wedbush analyst Dan Ives wrote on Monday.

For Apples fiscal second quarter, the consensus among analysts polled by FactSet calls for earnings of $1.43 a share. Analysts expect sales fell 4.5% to $92.91 billion.

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Ives rates Apple at Outperform with a $205 price target. He wrote Monday that he thinks an uptick in demand in China will help drive upside for iPhone sales.

With an App Store uptick this quarter we also believe Services revenue should be stable and combined should translate into headline numbers from Cupertino that should at least meet the Streets expectations, Ives wrote.

J.P. Morgan analyst Samik Chatterjee, who rates Apple at Overweight with a $190 price target, wrote Wednesday that investors will be especially interested in the firms commentary about the current quarter. The FactSet consensus call for the June quarter is for earnings of $1.21 a share and sales of $84.5 billion.

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Write to Connor Smith at connor.smith@barrons.com

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Apple Reports Earnings Today. What to Expect. - Barron's

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Big Tech Earnings: Time to Take Another Bite of Apple? – Yahoo Finance

Posted: at 12:17 pm

Earnings season has been in high gear for some time now, with a feared earnings apocalypse failing to materialize.

Last week, as many are highly aware, big-tech stole the spotlight, posting results that had the market celebrating and helping keep sentiment lifted heading into this weeks FOMC meeting.

We now have four quarterly prints from the Big 5 Tech Players, a list that includes Meta Platforms META, Alphabet GOOGL, Microsoft MSFT, Amazon AMZN.

And then theres Apple AAPL, the last of the group slated to report and arguably the most important of the five. The company will reveal its quarterly results this Thursday, May 4th, after the markets close.

All styles of investors will be tuning into the quarterly results, as Apple carries the biggest weight in the S&P 500, roughly 7%. Lets take a closer look at how the mega-cap titan stacks up heading into its quarterly release.

Quarterly Estimates

Since February of this year, the quarterly EPS estimate for Apples upcoming release has been revised 0.7% higher to $1.44 per share, with the value reflecting a modest 5.3% year-over-year pullback in earnings.

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