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London, Scientists have discovered that there is a type of <keyword id="57072" type="PERSON" weightage="20" keywordseo="Brain-Cell">brain cell</keyword> that can track how far we have travelled and remember where things are, which are added to our <keyword id="8815269" type="UNKNOWN" weightage="20" keywordseo="memory-map">memory map</keyword> of the places we have been.<br /><br />The existence of GPS-like brain cells, which can store maps of the places we've been, like our kitchen or holiday destination, was already widely known, but this discovery shows there is also a type of brain cell sensitive to the distance and direction of objects that can store their locations on these maps.<br /><br />The findings, detailing these cells called <keyword id="10477094" type="UNKNOWN" weightage="20" keywordseo="vector-trace-cells">vector trace cells</keyword> (VTC), were published in the journal <keyword id="1647146" type="PERSON" weightage="20" keywordseo="Nature-Neuroscience">Nature Neuroscience</keyword>.<br /><br />"The discovery of vector trace cells is particularly important as the area of the brain they are found in is one of the first to be attacked by brain disorders such as Alzheimer's disease, which could explain why a common symptom and key early 'warning sign' is the losing or misplacement of objects," said lead researcher Steven Poulter from Durham University in Britain.<br /><br />According to <keyword id="10477093" type="PERSON" weightage="20" keywordseo="colin-lever">Colin Lever</keyword> from Durham University, these cells appear to connect to creative brain networks which help us to plan our actions and imagine complex scenarios in our mind's eye. <br /><br />"Vector trace cells acting together likely allow us to recreate the spatial relationships between ourselves and objects, and between the objects in a scene, even when those objects are not directly visible to us," Lever said.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-spicejet-interglobe-aviation-tata-motors-pfizer-asian-paints-niit-lupin-and-others/articleshow/79849749.cms">Top stocks to watch – SpiceJet, InterGlobe Aviation, Tata Motors, Pfizer, Asian Paints, NIIT, Lupin, and others</a><br /><a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms?upcache=2">Mrs Bectors Food Specialities IPO allotment today: Here’s how to check share allotment status</a><br /><a href="https://www.businessinsider.in/business/startups/news/google-microsoft-invest-in-dailyhunt-for-its-short-video-platform-josh-making-it-the-latest-unicorn-in-india/articleshow/79850804.cms">Google, Microsoft invest in DailyHunt for its short video platform Josh – making it the latest unicorn in India</a></strong><br />

Scientists discover GPS-like brain cells that can boost our memory map and help track distance discovered

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Max Slater-Robins / BI</span></p><p class="caption">Mobile gaming has traditionally been dominated by free-to-play games such as Clash of Clans.</p></div><p></p></div></div></p><ul><li><strong>Mobile game sales have become a huge portion of the video game industry and are set to become even bigger, Baird Equity Research's Colin Sebastian said in a new report.</strong></li><li><strong>Some of the biggest publishers in the industry, including Electronic Arts and Activision, are starting to focus more seriously on mobile games.</strong></li><li><strong>Much of the industry's potential is due to the fact that there are lots more mobile devices in use than PCs or game consoles.</strong></li></ul><p><br />The mobile games business is becoming a lot bigger than Clash of Clans, Crossy Road, and Candy Crush - and it's offering a big opportunity for game publishers, distributors, and app store operators.</p><p>Mobile games already comprise a huge portion of the overall game business, and are growing steadily, Colin Sebastian, a financial analyst with Baird Equity Research, said in a new report. Some of the largest publishers are starting to bring some of their best-known games to mobile devices. And publishers are likely to get people playing longer and spending more money by incorporating features such as location tracking, augmented reality, and real-time multiplayer interactions, he said.</p><p>"As global smartphone and Internet penetration rates expand, we still see significant growth opportunities in mobile gaming," Sebastian said.</p><p>Last year, the mobile games brought in $46 billion in revenue, he said, citing data from mobile market research company New Zoo. That represented about 42% of total video game industry revenue, he said. Mobile games are likely to continue to grow both overall and as a portion of overall industry sales, he said.</p><p>Meanwhile, in the US, Baird forecasts that mobile game sales will grow from $5.5 billion last year to $8.1 billion in 2021.</p><p>Mobile gaming has been dominated by a handful of free games, often from developers or publishers that primarily focus on smartphone games. But some of the biggest traditional game publishers are starting to focus more closely on mobile games. Electronic Arts has already found success with smartphone versions of its FIFA and Madden NFL franchises, and Activision is discussing bringing some of its top game titles to mobile devices also, Sebastian said.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>BI Graphics</span></p></div><p></p></div></div></p><p>It's not hard to understand what's drawing in the big game publishers - there's are a lot more mobile devices in use around the world than PCs or game consoles. In the US alone, there are around 203 million mobile game players each month, Sebastian said.</p><p>"Mobile gaming gives publishers access to a much broader user base than traditional PC and console games," he said.</p><p>Those gamers are already investing significant amounts of time and money. On average, iPhone users spent $36 in Apple's app store on mobile games last year, Sebastian said. Meanwhile, mobile gamers in the US spent about 30 minutes a day playing games on their phones and other handheld devices.</p><p>Newer features could encourage them to spend even more time and money, he said. Pokemon Go showed the appeal of location-based and augmented-reality games. As those technologies become refined, games that incorporate them could become even more compelling.</p><p>Overall, Sebastian is bullish on the long-term prospects for the video-game industry and mobile gaming is a big reason why.</p><p>"Mobile gaming provides another growth lever for traditional publishers," he said.</p><p>In addition to the publishers, mobile game app store operators including Apple, Google, and Tencent are well-positioned to benefit from the growth in the industry, Sebastian said.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-having-dog-affects-your-body-brain-pet-oxytocin-animal-baby-2018-5">What having a dog does to your brain and body</a></h3>        <div>                    </div>    </div>

Mobile gaming is now a $49 billion industry - and publishers are starting to take smartphones as seriously as Xbox or PlayStation

<p><div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div></p><ul><li><strong><a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> shareholders and analysts are gearing up for the electric automaker's second-quarter delivery figures, which are expected in the coming days.</strong></li><li><strong>The results, which follow <a href="https://www.businessinsider.com/tesla-q1-2019-production-and-delivery-numbers-2019-4">last quarter's poor numbers</a>, arrive at a unique moment for the automaker; shares have bounced in recent weeks after a devastating months-long sell-off.</strong></li><li><strong>Analysts at prominent Wall Street firms have warned investors in recent days that while delivery figures will likely meet or exceed expectations, the earnings outlook still looks grim. </strong></li><li><strong>"We raise our delivery estimate to ~85k vehicles from ~75k, but still forecast ongoing losses," Barclays analyst Brian Johnson wrote in a recent report.</strong></li><li><strong><a href="https://markets.businessinsider.com/stocks/tsla-stock">Track Tesla shares here in real time</a>.</strong></li></ul><p><a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> may release second-quarter delivery figures in the coming week that sate Wall Street's expectations. But the automaker's future profitability and questionable underlying demand remain fundamental wildcards.</p><p>That's what a cadre of equity analysts at investment giants from Goldman Sachs to Barclays have conveyed to investors in recent days as Tesla is expected to release quarterly delivery figures in early July. </p><p>"While we believe 2Q19 should be fine - and the company likely achieves volumes near FactSet consensus - we do believe 2H19 (and beyond) volume estimates look high considering there are fewer levers to pull to stoke demand going forward," the Goldman analyst David Tamberrino, who rates Tesla a "sell," wrote in a note June 20 note.</p><p><strong><a href="https://markets.businessinsider.com/news/stocks/millennial-investors-markets-insider-is-seeking-a-panel-2019-5-1028181809" target="_blank" rel="noopener">Markets Insider is looking for a panel of millennial investors. If you're active in the markets, CLICK HERE to sign up.</a></strong></p><p>As many of his equity analyst peers have done this year amid the stock's months-long decline, Tamberrino cut his target on the stock <a href="https://www.businessinsider.com/tesla-price-target-cut-goldman-sachs-fourth-time-in-2019-2019-6">for the fourth time this year</a> to $158 from $200. He expects the second quarter was a "better environment" for deliveries, but to an unsustainable degree.</p><p>Tamberrino added: "We believe that is the largest question for investors to underwrite at this point - what are sustainable demand levels for the Model S, Model X, and Model 3 - and how does that change with the introduction of Model Y production."</p><p><div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div></p><p><strong><em>A bonus just for you: </em></strong><em><a href="https://www.businessinsider.com/subscription/try-prime?ms?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.businessinsider.com/subscription/try-prime?ms&amp;source=gmail&amp;ust=1560609085229000&amp;usg=AFQjCNFn6kRKsv--pWAFzmE2aDxEpiaN_Q">Click here to claim 30 days of access to Business Insider PRIME</a></em></p><p>Tamberrino is far from alone. His reduced target underscores the volatility in expectations for Elon Musk's automaker, mirrored in its stock price, in recent months.</p><p>After Tesla reported a <a href="https://www.businessinsider.com/tesla-q1-2019-production-and-delivery-numbers-2019-4">31% quarter-over-quarter drop in vehicle deliveries</a> in April, stoking demand concerns, analysts say the company appears better-positioned for deliveries this time around. The stock is up 27% since plunging to a <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-hits-2019-low-after-citi-baml-research-2019-5-1028223325?utm_source=markets&amp;utm_medium=ingest">2 1/2-year low in early June</a>. But that improved near-term outlook may not be still not enough to mark a sea change.</p><p>"<span>Expect improved Q2 deliveries to drive shares near term," the sell-rated UBS analyst Colin Langan told investors on Friday, "but Q2 profits and second half deliveries keep us cautious." </span></p><p>That view prompted Langan to <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-reaction-price-target-earnings-estimates-cut-deliveries-2019-6-1028318106">cut his price target</a> for the third time this year, to $160 from $200, and reduce his earnings estimates for this year through 2023. He now expects a 2019 loss of $8.00 per share, up from a loss of $6.15.</p><p><em><strong>Read more:</strong> <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-reaction-price-target-earnings-estimates-cut-deliveries-2019-6-1028318106">Another</a><a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-reaction-price-target-earnings-estimates-cut-deliveries-2019-6-1028318106"> Tesla analyst just slashed his price target for the 3rd time this year ahead of critical delivery numbers</a></em></p><p>Others have conveyed a similar view. Barclays analyst Brian Johnson, long a Tesla bear, upped his delivery estimates in a Thursday note to clients. But he still sees a quarterly loss in the cards.</p><p>"We raise our delivery estimate to ~85k vehicles from ~75k, but still forecast ongoing losses," Johnson said.</p><p>Credit Suisse, for its part, initiated Tesla coverage on Wednesday with an "underperform" rating and bearish $189 price target. The analyst believes investors haven't fully appreciated risks around the stock.</p><p>"Tesla has struggled in the manufacturing, delivering, and servicing of vehicles, implying risk that its edge in the 'value add' side will be a moot point," the analysts Dan Levy and Robert Moon.</p><p><div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div></p><p>Tesla CEO Elon Musk, as well as bullish equity analysts covering the stock, have sought to put concerns over underlying demand to rest.</p><p>In an email to employees last Tuesday, Musk said Tesla was close to setting a record for the number of vehicles delivered in one quarter, <a href="https://www.businessinsider.com/tesla-close-quarterly-delivery-record-elon-musk-says-email-2019-6/">Business Insider's Graham Rapier and Mark Matousek reported</a>.</p><p>"I think we expect demand to - we are seeing demand returning to normal in Q2," Musk said on the company's April earnings call in response to an analyst's question. "And it might be a little better than normal. It's - I don't have a crystal ball, so it's hard for me to say, but my impression right now is that demand is quite solid, quite strong, yes."</p><p><em><strong>Now read more Tesla coverage from Markets Insider and Business Insider:</strong></em></p><p><em><a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-ark-invest-bull-case-other-investors-flee-2019-5-1028242994">One of Tesla's most optimistic backers explains why it's doubling down as other investors rush for the exits</a></em></p><p><em><a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-after-q1-earnings-analysts-weigh-in-2019-4-1028139656#piper-jaffray-weakish-quarter-but-downside-should-be-concentrated-in-q1-staying-overweight-1">Tesla's dismal results are highlighting the divide between die-hard bulls and doomsday bears</a></em></p><p><em><a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-t-rowe-price-funds-dumped-81-of-tesla-stock-in-q1-2019-5-1028208301?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">The investment giant that was once Tesla's biggest Wall Street backer cut its stake in half last year. Now it's dumped most of what was left.</a></em></p><p><em><a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-hits-2019-low-after-citi-baml-research-2019-5-1028223325?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Tesla closes at a 2 1/2-year low after Wall Street unleashes scathing new research on the electric-car maker's troubles</a></em></p><p><em><a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-daniel-ives-tesla-bull-downgrades-shares-2019-4-1028140012?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">A vocal Tesla bull says he can no longer 'look investors in the eye' and recommend the stock</a></em></p><p><em><a href="https://www.businessinsider.com/tesla-workers-illegally-fired-for-unionizing-in-buffao-nlrb-complaint-2019-6">Workers</a><a href="https://www.businessinsider.com/tesla-workers-illegally-fired-for-unionizing-in-buffao-nlrb-complaint-2019-6"> at Tesla's Buffalo solar tile factory say the company sabotaged their efforts to find new jobs after trying to unionize</a></em></p><p><a href="https://markets.businessinsider.com/stocks/tsla-stock"><em><div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div></em></a></p><p class="tagline"><a href="https://www.businessinsider.com/intelligence/future-of-retail?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=transportation&amp;itm_campaign=future-of-retail"></a></p>

Tesla analysts up and down Wall Street are painting an ugly picture as the focus turns to all-important delivery numbers

<p class="source"><span>Shutterstock</span></p><p class="caption">Wall Street analysts say the renewable energy industry may be more insulated from a recession than other industries.</p><ul class="summary-list"><li>Wall Street analysts are warning that the US is teetering on a recession. Some say it's already here. </li><li>No industry is spared, but analysts and investors Business Insider spoke to said that the clean-energy sector may be dealt a softer blow. </li><li>"Anyone in the renewable sector is better than most," one investor said. </li><li>The cost of capital is the primary driver of renewable energy projects. That means low interest rates will spur demand. </li><li>Utility-scale projects are best-insulated, while residential solar companies may face a greater risk.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul><p>The US is teetering on the edge of a recession, Wall Street analysts are warning - with <a href="https://markets.businessinsider.com/news/stocks/coronavirus-recession-already-hit-us-economy-pandemic-bank-america-gdp-2020-3-1029012857">some saying we're already there</a>. </p><p>"We are officially declaring that the economy has fallen into a recession," Bank of America economists led by <a href="https://markets.businessinsider.com/news/stocks/coronavirus-recession-already-hit-us-economy-pandemic-bank-america-gdp-2020-3-1029012857">Michelle Meyer wrote in a note to investors on Thursday</a>. "It is a deep plunge." </p><p>A recession spares no industries, but four Wall Street analysts and investors that Business Insider talked to said the clean-energy sector - which was the target of more than $360 billion of investment last year, according to the research firm BloombergNEF - might be dealt a relatively soft blow. </p><p><strong><em><a href="http://newsletter.businessinsider.com/join/4np/power-line">Click here to subscribe to Power Line</a>, Business Insider's weekly clean-energy newsletter.</em></strong></p><p>"Anyone in the renewables sector is better than most," Jigar Shah, the president and cofounder of the investment firm Generate Capital said. "People like this asset class better than any other." </p><h2><strong>Low interest rates are especially beneficial for renewable energy projects</strong></h2><p>The price of renewable electricity is largely determined by the upfront cost of construction - what a company charges to build a solar or wind farm, for example.</p><p>Once those farms are set up, the input is minimal, unlike a natural gas or coal power plant, which require fuel to operate. </p><p>And that's especially true for solar facilities, says Colin Rusch, an analyst at Oppenheimer &amp; Co., "because there are no moving parts and limited maintenance." </p><p>With the cost of energy tied to an initial injection of funds, renewable energy projects - like any construction project - stand to benefit from low interest rates that typically accompany a financial crisis. Now, those rates are close to zero. </p><p>"The cost of capital is the biggest lever in the supply chain for all renewable energy projects," Rusch said. "As we see the cost of capital come down we see increasingly compelling economics for solar projects."</p><p>Low interest rates make it easier for clean-energy companies to borrow money. And by lowering the upfront cost of power plants, they also lower the cost of the electricity those plants generate. Both forces fuel demand. </p><p class="source"><span>Natalie Behring/Reuters</span></p><p class="caption">Innovation is what drives down the cost of renewable energy, Sophie Karp, an analyst at KeyBanc, said.</p><h2><strong>Other forces will drive down the cost of renewable energy, even within a recession </strong></h2><p>The cost of electricity that comes from fossil fuels, such as natural gas or coal, is determined by commodity prices, which are volatile and unpredictable, says Pavel Molchanov, an analyst at Raymond James. </p><p>Meanwhile, the price of renewable electricity has fallen consistently over the last decade in step with innovation, according to Sophie Karp, an analyst at KeyBanc.</p><p>Since 2009, for example, the price of solar panels <a href="https://www.irena.org/costs">has fallen by 80%</a>; wind turbine costs have seen similar declines. </p><p>"There's no reason to believe that the longer-term trend will stop," Karp said.</p><p>And that's true whether or not the price of oil continues to slip, analysts said. In most parts of the world, oil is not an electricity source, so its cost is not a meaningful benchmark. </p><p>The last time the price of oil collapsed, starting in 2014, it "didn't affect renewable growth at all," said Angus McCrone, chief editor at BloombergNEF, a clean-energy finance research firm. There's no reason to suspect a different outcome this time around. </p><h2><strong>Utility-scale projects would be better insulated from a recession </strong></h2><p>According to Molchanov, large, utility-scale solar and wind projects are "recession resistant" because they're generally managed by developers that have utility contracts. </p><p>"That has nothing to do with the economy," he said. "Whether GDP is up or down, it makes no difference for a utility investment decision because utilities are regulated businesses."</p><p><a href="https://www.businessinsider.com/jpmorgan-renewable-energy-stocks-could-be-first-to-bounce-back-2020-3">Analysts at JPMorgan also note</a> that utility-scale solar is typically constructed in remote locations, so the spreading coronavirus will be less likely to hamper those projects. </p><p>Utility-scale developments also have "long deployment cycles," the bank said <a href="https://www.businessinsider.com/jpmorgan-renewable-energy-stocks-could-be-first-to-bounce-back-2020-3">in a recent research note</a>, which makes them even more resilient to short-term impacts.  </p><p class="source"><span>David Greer</span></p><p class="caption">Apple's 14 megawatt solar array in Maiden, NC</p><h2><strong>Corporations who buy renewable energy may delay projects</strong></h2><p>Big companies like Google and Facebook are some of the largest buyers of renewable energy in the world. In 2019, <a href="https://www.businessinsider.com/top-10-clean-energy-firms-sold-most-power-last-year-2020-1">they bought a record 19.6 gigawatts of power</a>, which amounted to 10% of the clean energy added, globally, that year. </p><p>In a recession scenario, corporations may be inclined to delay purchasing of renewable energy, Jeff Osborne, an analyst at Cowen, said, though he doesn't think that's "lost business." </p><p>"It's more of a deferral," he said. </p><p>The cheap price of oil could also shrink clean-energy spending by oil and gas giants, such as BP or Shell, McCrone said. </p><p>"Oil companies - particularly European ones - have become pretty significant investors in renewables," McCrone said. "So if they're feeling under pressure, then it could be that they become not so keen to invest in renewables quickly." </p><p><em><strong>Read more: <a href="https://www.businessinsider.com/top-10-most-active-clean-energy-investors-in-2019-bnef-2020-1">Private investors poured $10.5 billion into clean energy in 2019. This list shows that oil and gas giants are among the most active private investors.</a></strong></em></p><p>But Molchanov didn't agree with that idea. He says the oil price shock could actually steer these companies' strategies towards renewable energy.  </p><p>"This shock, showing just how violent the oil market can get, will steer some management teams into looking at wind and solar because they're not nearly as volatile or difficult to predict," he said. </p><p class="source"><span>REUTERS/Mike Blake</span></p><p class="caption">Companies that sell rooftop solar may take a hit in a recession, analysts said.</p><h2><strong>Residential solar is likely to take a hit</strong></h2><p>The impacts of a pandemic-fueled recession on residential solar are mixed, the analysts said. </p><p>On one hand, cash-poor consumers are not going to be looking to make big purchases, and rooftop solar arrays cost around $20,000, according to Osborne.  </p><p>"I just don't see many couples saying 'Hey honey, let's drop $20,000 to put up the solar panels on the roof right now, even though we can save money and might have a five-year payback period,'" he said. </p><p>That said, many companies including Sunrun and Sunnova offer leasing and loan options, which could be attractive deals in a recession. </p><p>"Cash sales will definitely drop," Mochanov said. "Leasing and loans will be more protected." </p><p>It's also possible that more customers will pursue rooftop solar for their homes to ensure a more stable supply of energy in the wake of the pandemic. </p><p>"You couple this with extreme weather events and fires and I think this just increases demand," Brook Porter, a partner at the venture fund G2VP, said. "Just thinking about what happens when the grid goes down and thinking about resiliency, those thoughts drive capital investment."</p><p><em><strong>Read more: </strong></em><em><a href="https://www.businessinsider.com/blackouts-and-superstorms-are-new-fuel-for-rooftop-solar-companies-2020-3">A global pandemic and fear of power outages could fuel an emerging $50 billion market for rooftop solar companies like Tesla and Sunrun</a></em></p><p>Karp says residential solar companies may also be more secure in a recession, compared to companies that own large-scale arrays that deliver energy to corporations through power purchase agreements (PPAs).  </p><p>If the corporation goes bankrupt, the PPA could be subjected to bankruptcy, she said. But when your panels are distributed across the homes of thousands of customers, "it's a diversified risk." </p><h2><strong>Policies support renewable energy </strong></h2><p>At least <a href="https://www.greentechmedia.com/articles/read/tracking-progress-on-100-clean-energy-targets">12 states and Puerto Rico</a> have made 100% clean energy commitments. And many more utilities across the country are required to meet what's called a renewable portfolio standard - meaning a percentage of their electricity must come from clean energy sources by a certain date. </p><p>"The laws about decarbonization and renewable portfolio standards are going to still be enforced," Molchanov said, though he mentioned that most of them are set 20 or 30 years out in the future. </p><p>There are also tax incentives for installing wind and solar energy called the Production Tax Credit (PTC) that are expiring in the next year or two. If they don't get extended in the government stimulus package, they could spur short-term growth. </p><p>Utilities that own wind and solar assets have "tens if not hundreds of millions of dollars at stake," Osborne said. "There's a clock that you're up against."</p><ul class="read-more-links"><li>Read more:</li><li><a href="https://www.businessinsider.com/jpmorgan-renewable-energy-stocks-could-be-first-to-bounce-back-2020-3">Renewable-energy stocks could be the first to bounce back after the pandemic peaks, JPMorgan says. These are the bank's top 4 picks.</a></li><li><a href="https://www.businessinsider.com/blackouts-and-superstorms-are-new-fuel-for-rooftop-solar-companies-2020-3">A global pandemic and fear of power outages could fuel an emerging $50 billion market for rooftop solar companies like Tesla and Sunrun</a></li><li><a href="https://www.businessinsider.com/bnef-analysts-slash-projections-for-2020-renewable-energy-installations-2020-3">The leading clean-energy research firm just slashed its outlook in response to the coronavirus pandemic, revealing that solar energy installations could decline for the first time in decades</a></li><li><a href="https://www.businessinsider.com/8-experts-explain-how-coronavirus-is-impacting-the-clean-energy-sector-2020-3">Shuttered factories, tangled supply chains, and cratering demand: 8 experts told us how the coronavirus pandemic and oil price war are hitting clean energy</a></li></ul><p class="tagline"><a href="https://store.businessinsider.com/products/banking-briefing-subscription?itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=wallstreet&amp;itm_campaign=banking-briefing-subscription-2"></a></p>            <h3>NOW WATCH: <a href="https://www.businessinsider.com/economist-weighted-voting-could-help-save-us-democracy-2018-5">A top economist has a radical plan to change the way Americans vote: weighted voting</a></h3>

Wall Street analysts told us exactly what they think will happen to the $360 billion clean-energy industry during a recession

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Getty</span></p><p class="caption">Jeff Bezos, CEO of Amazon, whose cloud-computing business could, by itself, be one of the most valuable companies in the world.</p></div><p></p></div></div></p><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/amazon">Amazon</a> is going to spin off Amazon Web Services, its market-leading cloud-computing unit, as a separate company, marketing guru Scott Galloway predicted recently at Business Insider's IGNITION conference. </li><li>Galloway, who correctly predicted the company's acquisition of Whole Foods, thinks the spinoff of <a href="https://www.businessinsider.com/category/aws">Amazon Web Services</a> will happen in the next two years.</li><li>Many of the financial analysts who cover the company agree that it's likely to happen - but most don't think it will occur any time soon.</li><li>Amazon isn't under any immediate pressure to separate out AWS, and the unit is posting outstanding results as a part of the e-commerce giant, they note. </li></ul><p>A business professor who successfully predicted Amazon's purchase of Whole Foods thinks one of the company's next big moves will be to spin off its wildly successful cloud-computing business.</p><p>Some of the people who keep the closest tabs on Amazon think he might be onto something - although many quibble about the timing.</p><p>Amazon Web Services could easily stand on its own, Wall Street analysts who cover the company say. But many add that Amazon has no real incentive to spin off its cloud business any time soon, particularly not in the two-year time frame the professor - Scott Galloway of New York University's Stern School School of Business - is forecasting.</p><p>"AWS has gotten to size that would definitely allow it to have a very successful [spinoff]," said Youssef Squali, an analyst who covers Amazon for SunTrust Robinson Humphrey. But, he continued, "I don't believe Amazon feels any urgency to do it."</p><p>Indeed, in an interview last month with CNBC, Andy Jassy, the CEO of AWS, said he didn't see a spinoff happening anytime soon.</p><p>"I'll never say never about anything," Jassy said. But, he continued, "We just don't see a huge reason to do [it]."</p><h2>The spinoff will be motivated by fear and greed, Galloway said</h2><p>For his part, Galloway said Amazon has two compelling reasons to separate out AWS - greed and fear. Amazon could unlock potentially hundreds of millions of dollars of value by spinning off its cloud unit; on its own, AWS would likely be one of the ten most valuable companies in the world with a valuation of up to $600 billion, he said. Meanwhile, Amazon, like other big tech companies, is facing increasing scrutiny and mounting pressure from regulators and policymakers over its market power.</p><p><strong><em>Read this: </em></strong><a href="https://www.businessinsider.com/scott-galloway-amazon-will-spin-off-amazon-web-services-ignition-2018-12"><em>The business school prof who predicted Amazon would buy Whole Foods now says an AWS spinoff is inevitable - and the standalone company could be worth $600B</em></a></p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Jin S. Lee/Business Insider</span></p><p class="caption">New York University professor Scott Galloway predicted Amazon will spinoff Amazon Web Services in the next two years.</p></div><p></p></div></div>An AWS spin-off would prophylactically diminish that threat," said Galloway, who teaches marketing and first made his prediction at Business Insider's <a href="https://www.businessinsider.com/category/ignition-2018">IGNITION</a> conference earlier this month.</p><p>Some analysts and investors practically salivated at the idea of Amazon setting up AWS as a standalone company. Cloud computing is one of the hottest areas in the tech industry right now, but there's no easy way for people or institutions to narrowly invest in the core part of the sector. All three of the biggest cloud computing players - AWS, Microsoft Azure, and Google Cloud - are part of much bigger companies.</p><p>An AWS spin-off would not only give investors a pure-play cloud computing company to bet on, but it would allow them to buy into the dominant player in the space. Portfolio managers and money managers that don't follow tech closely but want to have a stake in the space would automatically buy shares of AWS, said Dan Morgan, a portfolio manager with Synovus Trust and a longtime tech investor.</p><p>"That would be huge," he said. He continued: "There would be tremendous demand for it."</p><h2>AWS could benefit from cutting its close ties to Amazon</h2><p>AWS could also see a business boost from the move. The cloud business is arguably already losing business because of its connection to Amazon.</p><p>Microsoft and Google's cloud arms have courted Amazon's retail competitors by noting that they don't have the same potential conflict of interest as the e-commerce giant. And Walmart, which signed a partnership deal with Microsoft earlier this year, has <a href="https://www.businessinsider.com/walmart-tells-its-tech-providers-to-stop-using-amazon-services-2017-6">reportedly been urging its vendors to stop using AWS</a>.</p><p>But Microsoft and Google have their own potential conflicts of interest thanks to the other parts of their business outside of their cloud units, said Scott Mushkin, a financial analyst who covers Amazon for Wolfe Research. But an independent AWS could lure business from all comers - potentially boosting its growth.</p><p>"A free-standing AWS could say we're a neutral party with pretty much everything," he said.</p><p>Amazon could spin off AWS not just to realize the full value of its cloud unit, but to demonstrate the worth of the other parts of its business, Mushkin said. The conventional thinking has been that without AWS, Amazon wouldn't be profitable. But that's no longer the reality, he said. Outside of AWS, Amazon's got highly profitable business in the form of its advertising efforts and its marketplace for third-party sellers, among other areas.</p><p>"Amazon's making lot of money in a lot of places these days," said Mushkin, who's even more bullish on the idea than Galloway, speculating it could happen in the next six to 12 months. Spinning off AWS, he continued, would be a "very bullish signal from the powers that be that Amazon ... is fine all by itself."</p><p>"It does have the potential to release a lot of value."</p><h2>Other analysts doubt a spinoff will happen anytime soon</h2><p>Other analysts agree that Amazon will eventually set up AWS as a separate, standalone company. At some point, it will just make sense, they say. Just not now.</p><p>Squali, for example, thinks a spinoff won't happen for another three to five years. Tom Forte, a financial analyst who covers the company for D.A. Davidson, thinks it won't happen until Amazon's highly profitable marketplace accounts for some three-quarters of its retail sales, up from about 53% today.</p><p>"I do see a potential scenario where [a spinoff] could happen at a point in time in the future," Forte said. </p><p>Forte and those who share his outlook think the main reason why it won't happen anytime soon is that there's no catalyst for it - there's nothing going on in the world that would light a fire under Amazon to take such a drastic move. </p><p>Typically, companies spin off units because they're under pressure to do so, usually from shareholders upset by an underperforming stock. Those investors often make the argument that the company has hidden gems that the market isn't seeing, and whose value will only be fully realized if the company separates them out as independent businesses.</p><p>But Amazon already breaks out the revenue, operating margin, and growth rate of AWS, so its relatively easy for investors to value it, noted Colin Sebastian, a financial analyst with Baird. What's more, Amazon's stock has outperformed both the broader market and most of its peers in recent years.</p><p>"I disagree that [a spin-off] is likely in the near term," Sebastian said. He continued: "It's not like we have a situation where the stock has underperformed significantly."</p><p>"I think the Street has a fairly good handle on AWS," he added.</p><h2>Amazon doesn't seem to be holding back AWS yet</h2><p>What's more, at this point, the argument that AWS's ties to Amazon are hampering its business is more theoretical than actual, Sebastian said. Amazon has made a point of maintaining a separation between its retail business and AWS to reassure retail and other rivals, he said. And to some degree that's worked; one of AWS's more prominent customers is Netflix, even though its streaming video service directly competes with Amazon's <keyword id="46801" type="COMPANY" weightage="60" keywordseo="prime">Prime</keyword> Video offering.</p><p><div class="KonaFilter image-container display-table float_left float_right"><div><div class="image on-image"><p class="source"><span>Mike Blake/Reuters</span></p><p class="caption">Andy Jassy, AWS's CEO, denied recently that Amazon has any near-term plans to spinoff his division.</p></div><p></p></div></div>But the proof is in the pudding - even in spite of the supposed conflict, AWS has been consistently growing its revenue at an annualized rate of more than 40% in recent quarters.</p><p>"I don't see that impact," Sebastian said. "You can't see it in the numbers that it's having trouble landing <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="enterprise">enterprise</keyword> clients."</p><p>Similarly, some analysts discount the notion that Amazon will separate AWS because of regulatory pressure. The company is still a fraction of the size of Walmart and it doesn't dominate any particular retail segment, said Anthony Chukumba, a financial analyst with Loop Capital Markets.</p><p>Even if it did, the government typically raises antitrust concerns about companies only when they start or threaten to raise prices on consumers. But Amazon is renowned for cutting prices and forcing competitors to do the same, Chukuma noted.</p><p>"The government's not really on their trail," he said. "It has no real reason to be on their trail."</p><h2>Amazon and AWS have a symbiotic relationship</h2><p>And at least for now, both Amazon and AWS benefit from their mutual ties, many analysts say. Amazon is AWS's biggest customer. It contributes to AWS's scale. It frequently asks for improvements and new features on AWS that end up benefiting all of the cloud service's customers, Sebastian said. But Amazon itself also benefits from the innovation and feature AWS develops for its other customers.</p><p>"It's a very symbiotic relationship," he said. If Amazon were to carve off AWS and set it up as its own independent company, he continued, "it wouldn't have nearly the same level of benefit."</p><p>To be sure, even those who are dubious that Amazon will spin off AWS anytime soon acknowledge changing circumstances could force its hand. The biggest potential spur for such a move would be a significant and sustained drop in its stock price, they say.</p><p>As Galloway notes, that's not some far-out possibility. Amazon's shares have historically - and even recently - seen big swings. Just in the last three months, the company's stock has fallen more than 30%.</p><p>"I think this will happen on the back of stock market underperformance," he said. He continued: "The stock price is the biggest lever of this decision."</p><ul class="read-more-links"><li>Read more about Amazon and AWS:</li><li><a href="https://www.businessinsider.com/amazon-aws-advertising-business-cowen-blackledge-investing-best-idea-2018-12" data-read-more-link="" data-e2e-name="read-more-link">An Amazon bull says the company's stock is his 'best idea' for 2019. Here's why.</a></li><li><a href="https://www.businessinsider.com/baird-colin-sebastian-reports-merkle-ad-data-q4-2018-11" data-read-more-link="" data-e2e-name="read-more-link">Amazon's ad sales are up 150% in just the last month - and it looks like it will be a happy holiday season for Google and Facebook, too</a></li><li><a href="https://www.businessinsider.com/goldman-sachs-cloud-computing-market-forecast-aws-microsoft-azure-google-cloud-2018-11" data-read-more-link="" data-e2e-name="read-more-link">The cloud-computing market is set to double to $116 billion by 2021 - these 3 charts show why that's probably good news only for Amazon, Google, Microsoft, and Alibaba</a></li><li><a href="https://www.businessinsider.com/amazon-rokus-streaming-video-advertising-smart-tv-2018-11" data-read-more-link="" data-e2e-name="read-more-link">Amazon's got its eyes set on yet another market - and one high-flying upstart should be worried</a></li></ul>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/50-lane-holiday-traffic-jam-beijing-hong-kong-macau-expressway-asia-new-year-2017-1">This 50-lane holiday traffic jam in China will make you regret ever complaining about your commute</a></h3>        <div>                    </div>    </div>

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