Photography website and commerce platform Zenfolio has released its “2024 State of the Photography Industry” report, exploring changing trends among photographers and their thoughts on important topics such as business and artificial intelligence.

Before we get into that, this year’s survey saw a massive 237% increase in total responses compared to last year, thanks in large part to collaborations with other brands including Format, ShootProof , SLR salon, Professional Photographers of America (PPA) and Miller’s Professional Imaging. Across the sample, 78% of respondents are from North America, including 73% in the United States. 28% of all US respondents come from California, Texas, New York and Florida. However, 7,646 photographers from 102 countries participated.

Of these 7,646 photographers, 66.5% describe themselves as strictly photographers, while 21.1% say they are both photographers and videographers. The remaining 12.4% say they are a hobbyist/enthusiast. The percentage of hybrid shooters increased from 17.4% last year. Another interesting note is that 47.9% of respondents claim to be self-employed full-time, an increase of 6.9 percentage points, year over year.

The survey also asks photographers about their specialties. The top three specialties for full-time freelance photographers have not changed: they remain portraits, weddings, and commercials, respectively. However, both portrait and wedding have taken bigger slices of the pie, while sports photography has dipped.

For part-time photographers, wildlife photography dropped out of the top six, and landscape photography took a hit, dropping from second to fourth place and losing nearly four percentage points.

77% of respondents are 40 years of age or older and 28% of responses are from photographers 60 years of age or older. Only 6.2% of respondents are under 30 years old. It might be more obvious if this is because the photography industry itself has few young people, or if younger people are less likely to be captured in Zenfolio’s survey.

The survey also provides fascinating insight into photography gear preferences. In 2023, 52% of respondents shot with a DSLR camera, while 41.4% opted for mirrorless equipment. Just one year later, the proportions have changed. 52.4% of photographers now shoot mirrorless, while 40.1% still work with a DSLR.

The age group that most prefers mirrorless cameras is the 30-39 segment, while at the younger and older ends of the spectrum, mirrorless and DSLR usage is fairly split uniform

For photographers trying to make money from photography, 2024 was similar to 2023. About the same proportion of photographers thought the business was busier, the same or worse than the previous year: 21.5%, 29 .5% and 39.2%, respectively. There is a mild trend to better business.

Like last year, the most lucrative genre of photography is wedding photography, with 23.3% of full-time photographers reporting gross income above $100,000. Sports photography is next, then portraiture.

In terms of how photographers make money, digital files are a bigger proportion of the business than “every other product” except, oddly enough, wedding photography. 52.6% of respondents offer mostly digital items to customers, but also some printed products. 24.2% sell exclusively digital products, while 4.1% only sell physical products such as prints.

Like last year, the 2024 survey also includes questions about AI. Surprisingly, photographers think more positively about AI in 2024, with a 7% increase in positive responses.

Many photographers are now using AI as part of their workflow, primarily within various AI-based photo editing features. Noise reduction, background removal and automatic subject selection are the most popular uses of AI. Less than 10% of respondents say they use AI to generate images.
Zenfolio’s comprehensive State of the Photography Industry 2024 report contains a lot of incredible information beyond what’s mentioned here, so head over to Zenfolio to digest the full details.

---

Image credits: Zenfolio

One of the biggest catalysts driving the market higher over the past year has been the advent of artificial intelligence (AI). Both companies and market watchers agree that the potential for increased productivity could boost profits, benefiting both companies and shareholders. Investors are also waiting on the edge of their seats for information from the Federal Reserve Bank on the future path of interest rates and when the central bank might reverse course and start cutting interest rates.

With this as a backdrop, AI software maker C3 (NYSE: AI) chip maker fell 5.2% Intel (NASDAQ: INTC) fell 5.2%, specialist in semiconductors Advanced microdevices (NASDAQ: AMD) fell 4.2%, specialist in memory and storage solutions Micron technology (NASDAQ: MU) dropped 3.9%, and melted Taiwan Semiconductor Manufacturing (NYSE: TSM) it fell 3.2% when the market closed on Friday.

A check of all the usual suspects—regulatory filings, financial reports, and changes in analysts’ price targets—revealed some company-specific news to explain the share price drop (more on that in a mica), which suggests many investors are very focused on the economy and geopolitical conflicts.

The dim prospects for a near-term rate cut

Investors have longed for the start of a round of interest rate cuts, which would finally kick-start the ongoing battle to control inflation. However, recent reports suggest that higher prices are not far behind.

The latest monthly inflation report, courtesy of the US Bureau of Labor Statistics, showed that inflation was surprisingly stubborn, sending a wave of anxiety on Wall Street. The consumer price index (CPI), the most widely watched inflation gauge, rose 3.5% in March compared to the same period last year, while it rose just 0. 4% month after month.

The increase was higher than expected; economists had expected 3.4% year-on-year and 0.3% sequential. Ahead of the report’s release, investors had expected the first of several interest rate cuts this year to take place in June, but the specter of lingering inflation dampened those hopes.

The story continues

The ongoing war between Israel and Hamas is also weighing on market sentiment as investors fear the conflict could expand in the region.

Why inflation matters

So what does this have to do with our quintet of AI stocks? The biggest problem is the high cost of borrowing money, as companies are unlikely to expand operations and adopt next-generation technologies, including generative AI.

• C3.ai builds plug-and-play AI software models for businesses. Businesses are unlikely to take on additional costs as long as inflation remains high.

• Intel makes semiconductors that help power data centers and AI systems, which will likely see slower adoption as well.

• AMD graphics processing units (GPUs) are a key component that facilitates the training and deployment of AI systems. These processors are expensive, at tens of thousands of dollars or more, so companies are likely to delay adoption while borrowing costs are high.

• Micron Technology provides flash memory and storage systems that speed up AI processing, so it will also be affected by higher interest rates.

• Taiwan Semiconductor Manufacturing, commonly called TSM, is the foundry that brings many of these AI chips to life, so slower AI adoption means fewer semiconductor sales.

Aside from these issues, there was some company-specific news that muddied the water even more.

bank of america analyst Vivek Arya lowered his price target on Intel to $44 while maintaining a neutral (hold) rating on the stock. This represents a potential upside of 17% compared to Thursday’s closing price. The analyst cited disappointing results from Intel’s foundry segment for the increased pessimism.

There was also a Cleveland Research report suggesting Intel may be losing share in the personal computer and server markets. There were also reports that China has instructed telecom companies to begin phasing out the use of foreign processors, which, if true, could directly affect Intel and AMD.

An earthquake in Taiwan earlier this month may affect Micron’s results in the current quarter, as the company has not yet returned to full production of its dynamic random access memory (DRAM) processors. Despite this, Citi analyst Christopher Danely believes this could be a positive for Micron, as lower supply leads to higher prices, noting that any decline in revenue would be temporary.

Transversal assessments

In terms of valuation, this stock group is a mixed bag. AMD, C3.ai, TSM, Micron, and Intel are currently trading at 8x, 7x, 7x, 4x, and 2x forward sales, respectively, making Intel the most attractive. When measured using a price-to-earnings-to-growth (PEG) ratio, which takes into account a company’s current growth trajectory, TSM, AMD and Intel have multiples of less than 1, the standard for a stock underrated

I’m not a fan of Intel as the company has been mired in a turnaround for years and has yet to prove that their efforts will succeed. Among the stocks featured, I think TMS and Micron offer the most upside as the pick-and-shovel plays in the AI ​​revolution.

There is still a long road ahead for generative AI, and the opportunity remains great. However, investors should be prepared for high volatility, even if the overall trajectory is likely to remain up and to the right.

Should you invest $1000 in C3.ai right now?

Before you buy shares on C3.ai, keep this in mind:

The Motley Fool Stock Advisor The team of analysts has just identified what they think they are 10 best stocks because investors buy now and C3.ai was not one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Stock advisor offers investors an easy-to-follow plan for success, including guidance on building a portfolio, regular analyst updates, and two new stock picks every month. The Stock advisor The service has more than tripled the return of the S&P 500 since 2002*.

Check out the 10 actions

* Stock Advisor returns from April 8, 2024

Citigroup is an advertising partner of The Ascent, a Motley Fool Company. Bank of America is an advertising partner of The Ascent, a Motley Fool Company. Danny Vena has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Bank of America and Taiwan Semiconductor Manufacturing. The Motley Fool recommends C3.ai and Intel and recommends the following: long January 2023 $57.50 calls on Intel, long January 2025 $45 calls on Intel and short May 2024 $47 on Intel. The Motley Fool has a disclosure policy.

Why C3.ai, Intel, Advanced Microdevices and Other Artificial Intelligence (AI) Stocks Fell on Friday was originally published by The Motley Fool

Submit your letter to the editor using this form. Read more Letters to the Editor.

Caltrain Engineers
should be emulated

Re: “While some applaud former Caltrain officials who built secret apartments, prosecutors call it a crime” (Page B1, April 3).

Mayor Mahan may consider hiring Joe Navarro and Seth Worden to lead his housing and affordable housing efforts in San Jose. These two former Caltrain employees created two secret apartments inside an unused station for $50,000. Their entrepreneurship must be recognized and appreciated.

Having been fired and awaiting trial for misappropriation of public funds, they should have plenty of time to apply their obvious talents to the spending of millions in city funds earmarked for housing and ‘affordable housing.

Creativity, chutzpah and closure what more can we ask for?

Ty Greaves
Saint Joseph

AI is a promise
of a bright future

Re: “San Jose harnesses AI to identify homeless encampments” (Page A1, April 7).

With the rise of AI, Silicon Valley is once again at the forefront of global transformation. English is the new programming language.

For transformation, 20 years ago only the forward-looking among us (like former Adobes CEO Bruce Chizen) would be talking about replacing physical objects (such as flashlights) with apps. The idea at the time boggled the mind and, in retrospect, is taken for granted. Just as we download apps to our phones without problems, we will all soon generate our own GPTs not by coding, but by writing advanced instructions (in English) with custom knowledge bases.

Art will soon merge with technology as a new generation of non-engineers work on app design. The future is bright.

Akeem Mostamandy
Saint Joseph

EVs, other tricks
they are not the climate panacea

Re: Carbon tariff will boost electric vehicle sales (Page A6, April 10).

Carlos Rodríguez Santiago thinks the so-called cybertrucks are “so beautiful.” This is unfortunate when you consider that Tesla’s “cyber truck” is extremely heavy, requires huge batteries, and poses a serious road safety hazard due to its weight.

Electric vehicles of any kind, along with photovoltaic cells and “cloud lighting,” are by no means panaceas for the looming climate crisis. In fact, they are great distractions from what really needs to happen, which can be described as “radical conservation”. Maintaining the lifestyles of middle-class America (and elsewhere in the world) is unsustainable. Dramatic changes are needed in the way we live our lives.

There will be no technological miracles coming to the rescue, no matter what the billionaires say. Simply put, we need to produce less and consume less overall. And what we produce must be distributed much more equitably.

Anthony Stegman
Saint Joseph

California should
total ban on plastic bags

Plastic pollution harms our oceans, wildlife and even humans: plastic bags break down into microplastics, which end up in our drinking water and, consequently, our blood. The single-use plastic bags distributed by grocery stores, which we only use for five minutes, take hundreds of years to break down and continue to harm us for hundreds of years beyond their use.

As a global leader in protecting the environment, California has the opportunity to instigate major change for a more sustainable future. That’s why SB 1053, which would ban single-use plastic bags from grocery stores, is such an important bill. With this measure, we can pave the way for the progressive elimination of single-use plastics and ensure that their undoubted harm ends.

Avalon Kelly
The Cats

Continued blockade of Gaza
should lead to a UN investigation

It is outrageous that Israel continues to deny food, water and basic necessities to anyone under its control. There are many trucks loaded with food, tents and medical supplies outside their borders, waiting to be unloaded.

The United Nations World Court must prosecute Israel for the crime of failing to protect vulnerable humans living on its territory.

If Israel does not guarantee the safety of all who live on its territory, the United Nations should declare a total boycott.

Gil Villagran
Saint Joseph

Publishing raises the profile
of a few demonstrators

Re: “The appalling tactics of the ‘Free Palestine’ movement” (Page A7, April 9).