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Its price target of $4,380 suggests nearly 18% upside from Friday's close. "We expect numbers to reset lower (again) with the downward revision a negative catalyst for the multiple, and the margin story likely being pushed out to 2025," wrote analyst Christian Carlino. Analyst Anthony Powell accompanied the move by raising his price target to $204 from $194, implying a potential 15% rally for the stock. The investment firm upgraded the airline stock to market-perform from underperform, boosting its price target to $32 from $26. His price target of $338 per share implies upside of just 5% from Friday's close.

Persons: Bernstein, Evercore, Piper Sandler, Brian Mullan, Mullan, — Jesse Pound, Aaron Kessler, — Michelle Fox, JPMorgan downgrades Holley, Holley, Christian Carlino, Carlino, HLLY, hasn't, — Lisa Kailai Han, AvalonBay, Anthony Powell, Powell, AVB, Lisa Kailai Han, Joshua Shanker, Morgan Stanley, bullish Tesla, Tesla, Adam Jonas, Jonas, Russell Quelch, Quelch, MSCI, Arun Viswanathan, Viswanathan, Rosenblatt, Hans Mosesmann, Mosesmann, Michael Linenberg, Linenberg, David Vernon, David Raso, Raso, Assuredness, Fred Imbert, ~$ ~$ Organizations: CNBC, Airlines, Southwest Airlines, Deutsche Bank, JetBlue, Caterpillar, Foods, . Restaurant, Seaport Research, Booking Holdings Seaport Research Partners, Booking Holdings, JPMorgan, Barclays, Bank of America, AIG, of America, Tesla Network, RBC, Ball Corporation, Markets, Ball Corp, Aerospace, BAE Systems, Ball, Micro Computer, Super Micro Computer, Micro, ASM, Spirit Airlines, Bernstein, Spirit, Boeing Max, ISI, CAT Locations: Southwest, Friday's

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Tesla, JetBlue, Disney, Caterpillar, Super Micro and more
▼ + stars: | 2024-02-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley downgrades Oatly to equal weight from overweight Morgan Stanley resumed coverage of the oats company and said it sees too many negative catalysts. " Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with Tesla despite a slew of negative data points in a recent investor survey. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said it's standing by Nvidia heading into earnings later this week. Morgan Stanley initiates CG Oncology as buy Morgan Stanley said shares of the bladder cancer company are "compelling." "We initiate coverage on Morgan Stanley Direct Lending with a Buy rating and $23.50 PT.

Persons: Morgan Stanley downgrades Oatly, Morgan Stanley, Tesla, Bernstein, Siri, it's, Disney, Ingersoll Rand, Rosenblatt, MSCI's, Goldman Sachs, Wolfe, Piper Sandler, Riley, Grainger, Northcoast, JPMorgan downgrades Holley Organizations: Apple, Nvidia, Disney, RBC, Aerospace, BAE Systems, Caterpillar, SMCI, Deutsche Bank, JetBlue, Alaska Air, ASM, Health, BrightSpring Health, Brunswick Corporation, Barclays, JPMorgan, Mizuho, Oncology, UBS, Morgan, Fund, Seaport, Booking Holdings, " Bank of America, AIG, Bank of America, General Insurance Locations: Silicon Valley, Alaska, Brunswick, MIBS, Texas, Europe, Asia

☆ ASML and more: BofA just got more bullish on these 3 chip stocks, says AI spending is heating up
▼ + stars: | 2024-02-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

European semiconductor equipment stocks are likely to outperform as spending on artificial intelligence chips rises over the next decade, according to Bank of America. The continent's chip stocks produce the high-tech machines needed to manufacture the latest generation of chips. ASML ASML , the dominant supplier of lithography equipment used to manufacture advanced logic and memory chips, remains Bank of America's "top pick in EU Semicaps." The bank forecasts strong demand from leading chipmakers using ASML 's extreme ultraviolet lithography machines required to produce next-generation AI accelerators and high bandwidth memory modules. The investment bank said ASM 's exposure to new transistor architectures called "gate-all-around" appears to be critical for improving AI chip performance.

Persons: Didier Scemama Organizations: Bank of America, AMD, Nvidia, EU, America's, Analysts, ASM International Bank of America, ASM International, ASM, BE Semiconductor Industries, HB, Intel, Micron Locations: Europe

☆ Rising yields and war: Here's how to trade the volatility, according to fund managers
▼ + stars: | 2023-10-25 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Market volatility looks here to stay: Yields are still rising, a war is raging, and it's uncertain whether interest rates will stay higher for longer. Go for bonds Though volatility in the bond market has led to losses, some fund managers are saying that it's time to get back into this asset class, given that yields are high. Money market funds typically include short-term Treasurys. Bond yields move inversely to prices — that means a peak in interest rates may signal that bond prices have bottomed. When interest rates rise, bond prices typically fall as existing bonds with lower yields become less attractive.

Persons: Investors, David Katz, Katz, Bryn Jones, there's, Jones, Hide, Paul Meeks, Meeks, Steven Glass, Glass, Marsh McLennan, he's, they're, — CNBC's Michael Bloom Organizations: Treasury, Bank of America, Matrix Asset, CNBC Pro, gilts, U.S . Federal, Treasury Bond ETF, Pella Funds, Group, ASM, Taiwan's Locations: Israel, United States, China, U.S, Pella, Germany, Netherlands

☆ ASMI beats revenue target with boost from China activities
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

Oct 24 (Reuters) - Semiconductor equipment manufacturer ASM International (ASMI.AS) beat its third quarter revenue guidance Tuesday, with a strong contribution from the Chinese market. The Dutch group reported 622.3 million euros ($659.14 million) in revenue during the quarter, against an initial target of between 580 and 620 million euros. ASMI's third quarter revenue is up from 609.8 million euros last year and above the 601.92 million euros expected by analysts, according to LSEG data. New orders came in at 627.4 million euros, below last year's 675.5 million euros but near the top-end of the group's guidance for the quarter. Fellow Dutch semiconductor equipment maker ASML Holding NV (ASML.AS) last week reported lower-than-expected orders in the third quarter and warned of flat sales in 2024.

Persons: Benjamin Loh, Victor Goury, Alison Williams, Mark Potter Organizations: Semiconductor, ASM, ASML, Thomson

☆ Vietnam rare earths arrests include key figure in bid to build industry
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] Luu Anh Tuan, Chairman of mining company VTRE in his Hanoi office with samples of rare earth oxides in Hanoi, Vietnam September 7, 2023. REUTERS/Francesco Guarascio/File Photo Acquire Licensing RightsHANOI, Oct 20 (Reuters) - Police in Vietnam have arrested six people accused of violating mining regulations, including the chairman of a company at the heart of efforts to develop Vietnam's rare earth industry, seizing 13,715 tons of rare earths ores. VTRE has partnered with Australian mining companies Australian Strategic Materials (ASM) (ASM.AX) and Blackstone Minerals LTD (BSX.AX), which were not involved in the investigation. ASM signed a binding agreement in April with VTRE for the purchase of 100 tons of processed rare earths this year, and committed to negotiating a longer-term supply deal. Vietnam is planning to organise auctions for concessions at its largely unexploited rare earths mines, which are considered to contain the world's second biggest deposits of the critical minerals used in electric cars and wind turbines.

Persons: Anh Tuan, Francesco Guarascio, Yen Bai, VTRE, Blackstone, Dong Pao, Tuan, Doan Van Huan, Khanh Vu, Edmund Klamann, Martin Petty Organizations: REUTERS, Rights, Police, Earth JSC, Duong Group, Ministry of Public Security, Strategic Materials, Blackstone Minerals LTD, Blackstone, ASM, Australian, Thai Duong Group, Thomson Locations: Hanoi, Vietnam, Rights HANOI, Vietnamese, Yen, Lai Chau, Yen Bai

☆ ASM International raises 2025 revenue guidance
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

Sept 26 (Reuters) - Dutch semiconductor equipment maker ASM International (ASMI.AS) raised its revenue target for 2025 on Tuesday, saying its innovation strategy and transition to new technologies would reap results. The Amsterdam-listed company now expects revenue to reach 3 billion euros to 3.6 billion euros ($3.81 billion) in two years time, up from a previous estimate of 2.8 billion to 3.4 billion euros. ASM International also reiterated its gross margin target at 46-50% and its operating margin target at 26-31% for 2023-2025. ALD, a technique in semi-conductor manufacturing using ultra-thin layers of material, accounted for more than half of the company's revenue from equipment sales in 2022. The group also confirmed its overall sales target for the upcoming quarter at between 580 million and 620 million euros.

Persons: Benjamin Loh, Victor Goury, Pierre John Felcenloben, Christopher Cushing, Kirsten Donovan Organizations: ASM, ASM International, Thomson Locations: Amsterdam

She cited unpublished information from Vietnam's Ministry of Natural Resources and Environment, which did not respond to requests for comment. In recent years, Japanese investors Toyota Tsusho and Sojitz abandoned projects at Dong Pao after China ramped up supply, pummelling prices. Reuters GraphicsStill, rare earths at Dong Pao are relatively easy to access and are mostly concentrated in bastnaesite ores, according to the Hanoi University of Mining and Geology. The plant has capacity to process 5,000 tons of REO a year but the company plans to treble that to accommodate input from Dong Pao, Tuan said. The metallization process is controlled by China, which produces 90% of rare-earth metals, according to the U.S. Department of Energy.

Persons: Dong Pao, Blackstone, VTRE, Tessa Kutscher, Anh Tuan, Joe Biden, Kutscher, Sojitz, Dylan Kelly, Vingroup, Rivian, Dong, Tuan, David Merriman, John Rockhold, Dudley Kingsnorth, Francesco Guarascio @fraguarascio, Khanh, Melanie Burton, Trevor Hunnicutt, Mai Nguyen, Phuong, David Crawshaw Organizations: REUTERS, Australia's Blackstone Minerals Ltd, Vietnam's Ministry of Natural Resources, Earth JSC, U.S, . Geological Survey, Reuters, Toyota, Terra Capital, Blackstone, Hanoi University of Mining, REO, White House, Department of Commerce, U.S . Chamber of Commerce, Strategic, ASM, Reuters Graphics Reuters, U.S . Department of Energy, Western Australian School of Mines, Curtin University, Thomson Locations: Nam, Lai Chau, Vietnam, Pao, HANOI, Dong, Beijing, China, Hanoi, U.S, Dong Pao, VTRE, South, Khanh Vu, Melbourne, Seoul, Washington, Phuong Nguyen

☆ Morgan Stanley says these 6 global stocks will benefit from a 'monumental shift' in the chip industry
▼ + stars: | 2023-09-22 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

A "monumental shift" is underway in the semiconductor industry — and a raft of stocks are set to benefit, according to analysts at Morgan Stanley . "The transition to 3D 'gate-all-around' architecture marks a monumental shift for leading-edge logic chip architectures," the analysts said. Though industry players expect that initial gains will be "relatively subdued," Morgan Stanley is optimistic that the shift will create a "roadmap into the next decade." Stock picks Here are some of the stocks Morgan Stanley expects will benefit: Lam Research is one of the stocks the bank rated overweight. Morgan Stanley analysts agreed with the company's statement that "gate-all-around is good for the industry, [so] good for ASML."

Persons: Morgan Stanley, TSMC, it's, — CNBC's Michael Bloom Organizations: ramping, Materials, ASM, ASML, Intel, Samsung, GAA Locations: U.S, Swiss

☆ Bank of America names 2 European chip stocks as its 'top picks' into year-end
▼ + stars: | 2023-09-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America named European chip stocks ASM International and STMicro as its "top picks" going into the end of the year. The Wall Street bank said it continues to favor ASMI with a 521 euro ($559) price target, which represents 25% upside potential from the current share price. Bank of America's $72 price target for STM points to a 62% upside potential over the next 12 months. STM ASMXF YTD line Bank of America analysts cited "resilient pricing and secular growth drivers in silicon carbide (SiC)" as reasons the stock should benefit into year-end. Bank of America cautioned that mixed signals on smartphone demand are an issue for the semiconductor sector more broadly.

Persons: Didier Scemama, Jean, Marc Chery Organizations: of America, ASM International, " Bank, America's, Bank of America, carmakers Locations: United States, Paris

The instruction by TSMC, which is grappling with delays at its $40 billion chip factory in Arizona, is aimed at controlling costs and reflects the company's growing caution about the outlook for demand, the sources said. Suppliers currently expect the delay to be short-term, the sources said, declining to be named as the information is not public. Companies affected by the instruction to delay include Dutch firm ASML (ASML.AS), which makes lithography equipment essential for high-end chipmaking, one of the sources said. ASM International (ASMI.AS), a smaller equipment firm that is also a supplier to TSMC, fell 4.2% with BE Semiconductor (BESI.AS), a packaging equipment firm, down 2.4%. CHIP CYCLE WORRIESThe Taiwanese chip giant is not alone in worrying a bounce back in demand may take longer than expected.

Persons: Dado Ruvic, TSMC, chipmaker, C.C, Wei, Peter Wennink, We've, Wennink, they're, Mark Liu, Sam Nussey, Fanny Potkin, Toby Sterling, Miyoung Kim, Stephen Coates Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Suppliers, Reuters, ASM, BE Semiconductor, Apple, Media, Huawei, Analysts, chipmaker Semiconductor Manufacturing International Corp, HK, Thomson Locations: TOKYO, SINGAPORE, AMSTERDAM, Arizona, China, Taiwan, Beijing, Washington, Tokyo, Singapore, Amsterdam

☆ Hawaiian Airlines parent tempers outlook on Maui wildfire, engine issues
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +1 min

Hawaiian Airlines airplanes sit idle on the runway at the Daniel K. Inouye International Airport due to the business downturn caused by the coronavirus disease (COVID-19) in Honolulu, Hawaii, U.S. April 28, 2020. REUTERS/Marco Garcia Acquire Licensing RightsSept 5 (Reuters) - Hawaiian Holdings Inc (HA.O), the parent company of Hawaiian Airlines, said on Tuesday that its third-quarter revenue had been trending positively but was reversed after the West Maui wildfire affected travel demand. Hawaiian Airlines is among the major customers that took delivery of the affected A320neo jets, according to aviation data provider Cirium. The State of Hawaii has currently discouraged non-essential travel to West Maui through October, the company said. Hawaiian expects its operating revenue per seat mile for the current quarter to be down 4% to 7%, from earlier guidance for a reduction of 2% to 5%.

Persons: Daniel K, Marco Garcia, Pratt, Pratyush Thakur, Devika Organizations: Airlines, Inouye, REUTERS, Hawaiian Holdings Inc, Hawaiian Airlines, Pratt & Whitney, Airbus, ASM, Thomson Locations: Honolulu , Hawaii, U.S, Maui, State, Hawaii, West Maui, Bengaluru

☆ Nvidia results burnish AI rally, lift global tech shares
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +3 min

Nvidia's shares rose to $510.14 in premarket trading, set to surpass a record high of $481.87 hit earlier this week. That represents another three-fold increase in the stock's value from current levels. Elsewhere, shares of Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW), which supplies to Nvidia, rose 2.2%. A lot rested on Nvidia posting strong results, as most of the S&P 500's over 15% year-to-date gains have come from the AI-driven rally in Nvidia and other Big Tech stocks. Investing.com analyst Thomas Monteiro said Nvidia's results validated "the narrative that has been propping tech stocks in general this year."

Persons: Ann Wang, ”, Hargreaves, Sophie Lund, Yates, Elazar, Bernstein, Stacy Rasgon, Ipek Ozkardeskaya, Thomas Monteiro, Susan Mathew, Chavi Mehta, Varun Organizations: REUTERS, Nvidia, Elazar Advisors, Rosenblatt Securities, Devices, Micron Technology, Broadcom, Marvell Technology, Taiwan Semiconductor Manufacturing, ASM International, BE Semiconductor, Aixtron, Swissquote Bank, Big Tech, Thomson Locations: Taipei, Taiwan, Bengaluru

☆ Nvidia's Frankfurt shares surge as stellar results seen keeping AI rally alive
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +3 min

A Nvidia logo is seen on one of their products on display at their headquarters in Taipei, Taiwan May 31, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsAug 24 (Reuters) - Frankfurt-listed shares of Nvidia jumped 8.7% on Thursday, lifting tech shares around the world, after the company forecast quarterly revenue that smashed expectations and announced a $25 billion buyback. That represents an over three-fold rise in shares from last close of $471.16. The results are also seem keeping a Wall Street rally alive, with futures tracking the tech-heavy Nasdaq 100 jumping more than 1%, while S&P 500 futures rose 0.7%. Elsewhere, shares of Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW), which supplies to Nvidia, rose 2.2%.

Persons: Ann Wang, Elazar, Stacy A, Ipek Ozkardeskaya, Susan Mathew, Varun Organizations: REUTERS, Nvidia, Elazar Advisors, Rosenblatt Securities, Swissquote Bank, Big Tech, Taiwan Semiconductor Manufacturing, ASM International, BE Semiconductor, Aixtron, Thomson Locations: Taipei, Taiwan, Frankfurt, Bengaluru

☆ Nasdaq futures rally as Nvidia's blowout forecast boosts AI stocks
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +3 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Nasdaq 100 e-minis were up 172 points, or 1.13% and S&P 500 e-minis were up 21.75 points, or 0.49% at 5:28 a.m. "It is clear...that AI demand is still outstripping supply," Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. "Within the tech sector, we think software and internet stocks are best positioned to ride the next wave of the technology cycle and the broadening of AI demand." Splunk Inc (SPLK.O) gained 13.9% after the data analytics software maker forecast third-quarter revenue above market estimates on expectations of AI-related spending.

Persons: Robert Galbraith, Mark Haefele, Jerome Powell, Amruta Khandekar, Shreyashi Sanyal, Savio D'Souza, Shinjini Organizations: Nvidia, REUTERS, Dow, Nasdaq, UBS Global Wealth Management, Microsoft, Palantir Technologies, Micro Devices, Marvell Technology, Semiconductor, Europe's ASM, BE Semiconductor, ASML, Investors, Federal Reserve, U.S, Treasury, Boeing, Splunk Inc, Thomson Locations: Santa Clara , California, United States, Jackson, U.S, Bengaluru

China is dominant in magnets and the rare earth metals they are made from. Magnet makers are also drawn to Vietnam by low labour costs and market access afforded by multiple free-trade deals. It said it sources most of its rare earths from China but is seeking alternative sources in Vietnam and Australia and plans to develop a processing facility in Vietnam. A similar request from clients prompted another Chinese magnet maker, Magsound, to decide to open a factory in Vietnam in the first half of next year, the two people said. In April, Australia's Strategic Materials (ASM.AX) signed a deal with a Vietnamese refiner that committed to supplying rare earths for export to South Korea.

Persons: David Merriman, China's Luxshare, Taiwan's Foxconn, Magsound, Japan's Shin, Obayashi, Francesco Guarascio, Khanh Vu, Mai Nguyen, Christopher Cushing Organizations: Apple, Sino, Korea's Star, Industrial, SGI, U.S . Department of Energy, South, Reuters, VinFast, Hyundai, China's, Luxshare, Thomson Locations: China, HANOI, SEOUL, Vietnam, U.S, South Korea, Washington, Beijing, Australia, Hanoi

☆ The West’s ‘see no evil’ approach to Serbia’s Vucic is destabilizing the Balkans
▼ + stars: | 2023-08-14 | by ( Christian Edwards | ) edition.cnn.com time to read: +20 min

The result is that, despite Serbia’s professed hopes to join the EU, Vucic has continued to walk a tightrope between Moscow and western powers. A Pristina government official told CNN that they did not want to “surrender” official government buildings to protesters. A decade on, these municipalities have not been created, leaving disputes to fester over the degree of autonomy for Kosovo Serbs. After such episodes, Joseph told CNN that the “see no evil” approach to Vucic’s regime may be starting to crack. “The situation is clear who the bully of the Balkans still is,” Meliza Haradinaj, Kosovo’s former foreign minister, told CNN.

Persons: Moscow’s, Aleksandar Vucic, Vladimir Putin, Daniel Mihailescu, ” Jasmin Mujanovic, Vucic, “, Mujanovic, Alicia Kearns, ”, –, Serbia's Aleksandar Vucic, Albin Kurti, Serbia’s, you’ll, Kearns, wouldn’t, Putin, Viktor, Orban, ” Majda, you’re, Quint, ” Kurti, Kurti, Edward Joseph, Laura Hasani, He’s, Shqiprim Arifi, Arifi, Ben Kilb, ” Dusan, Milorad Dodik, Oliver Bunic, Boris Grdanoski, ” Joseph, Viktor Oban, Joseph, Biden, Aleksandar Vulin, ” “ He’s, ‘ we’re, ’ He’s, I’ve, ” Vucic, Meliza Organizations: CNN, European Union, Putin, Belgrade, Getty, Serbian Progressive Party, SNS, NATO, National Security, United Nations, Kosovo's, EU, Anadolu Agency, Gazprom, Serbian, European Council, Foreign Relations, ”, US, Kosovo Serbs, Kosovo’s, Johns Hopkins University, …, Kosovo Serb, Reuters, British, Kosovo, Kosovar Business Alliance, Kosovar, Serbs, “ Association of, Bloomberg, ASM, Russian, AP, Serbia ”, KFOR, NATO’s Kosovo Force, Red Star, Red Star Belgrade soccer Locations: Russia, Ukraine, United States, Serbia, Europe, Belgrade, West, Kosovo, Kosovo’s, Kosovar, AFP, Russian, Balkan, Western Balkans, British, United, EU, Brussels, Belgium, Moscow, ” Kosovo, Serbs, France, Germany, Italy, Balkans, Pristina, … Serbia, Zvecan, Serbian, Presevo, Albanian, Leposavic, Republika Srpska, ” Republika Srpska, Bosnia, Herzegovina, Dayton, Banja Luka, Kurti, Ohrid, North Macedonia, Republic of Serbia, appeasing Serbia

July 25 (Reuters) - Dutch semiconductor equipment maker ASM International (ASMI) (ASMI.AS) said on Tuesday new orders almost halved in the second quarter due to softening demand and delays at some customers' manufacturing facilities. The company, which supplies wafer processing equipment to semiconductor makers, said new orders fell to 485.8 million euros ($536.2 million) from 942.7 million euros in the same period a year earlier. It also reported second-quarter net earnings of 151.2 million euros, down from 160.4 million a year ago. The company forecast third-quarter revenue of 580-620 million euros on a currency-comparable level, down from 675.5 million euros a year earlier. ($1 = 0.9060 euros)Reporting by Pierre John Felcenloben and Laura Lenkiewicz; Editing by Susan Fenton and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: ASMI, Pierre John Felcenloben, Laura Lenkiewicz, Susan Fenton, Mark Potter Organizations: ASM, Thomson Locations: China, United States

☆ ASML, STMicro, Infineon and more: Barclays predicts the AI impact as earnings loom
▼ + stars: | 2023-07-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

"We expect AI excitement to continue (hence our Positive industry view)," said the Barclays analysts led by Simon Coles in a note to clients on June 28. The below table highlights the European chip stocks covered by Barclays, the date of their earnings, and the bank's 12-month price target for each. The stock has potential upside of 37.3%, according to Barclays' analysts; the second-highest on their list. The bank's analysts are optimistic about the company's revenue exposure and anticipate a strong quarter driven by the auto sector. Barclays puts Infineon's upside potential at 40% — the highest on its list of chip stocks.

Persons: Simon Coles, ASML, telco, STMicroelectronics Organizations: Barclays, Samsung, Nokia, ASM, Infineon Locations: Asia, China, EUV, STMicro, 2024E

☆ ASML to hire 100 researchers leaving Philips
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, July 18 (Reuters) - Dutch semiconductor equipment maker ASML (ASML.AS) will hire 100 researchers who are leaving Philips (PHG.AS), the companies said on Tuesday. ASML was founded as a joint venture between Philips and ASM International (ASMI.AS) in 1984 and has become Europe's largest technology company by market capitalisation. Philips, a former industrial conglomerate that now focuses on medical technology, has been retrenching and cutting staff after a major recall of respiratory devices. The employees switching companies are from Philips' Engineering Solutions division, including staff working on "mechatronics", the integration of mechanical control systems into electronics. ASML hired a net 7,000 employees in 2022, adding almost 20% to its global workforce, but it is expected to slow that pace this year.

Persons: ASML, Toby Sterling, David Goodman, Jonathan Oatis Organizations: Philips, ASM International, Engineering Solutions, Thomson Locations: AMSTERDAM, Financieele Dagblad, ASML

The pan-European STOXX 600 index (.STOXX) closed 1.5% higher, extending gains to the fourth straight day. U.S. consumer prices advanced 3.0% in June - their smallest year-on-year increase since March 2021 - after 4% growth in May. Gains in the lenders lifted UK's FTSE 100 index (.FTSE) by 1.8%, leading gains among European peers and pushing the European banks index (.SX7P) up 1.9%. European shares have performed better than UK stocks so far this year, amid economic resilience and signs of cooling inflation in the euro zone, with focus now shifting to the upcoming earnings season. Data showed Spanish national consumer prices rose 1.9% in the 12 months through June, down from a 3.2% rise in the period through May.

Persons: Daniel Casali, Evelyn, Jefferies, Vincent Chaigneau, Matteo Allievi, Shreyashi Sanyal, Sohini Goswami, Nick Zieminski Organizations: U.S, Jefferies, Federal, Evelyn Partners, Lloyds, Barclays, HSBC, Bank of England, Miners, ASM International, Infineon, Generali Investments, Air France, KLM, Deutsche Bank, Thales, Cobham Aerospace Communications, Spanish, Thomson Locations: United States, U.S, Gdansk, Amruta, Bangalore

☆ Forget the hype: Barclays identifies global 'A.I. winners' for the long term
▼ + stars: | 2023-07-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Barclays has named several global stocks that are expected to do well as the usage of artificial intelligence-related services evolves. The investment bank acknowledged that hardware and infrastructure giants, most notably Nvidia and Microsoft , are currently seeing the immediate benefits of the AI hype. Still, over the long term, it said businesses in the service sector could cash in significantly. The companies in Barclays' "Global AI Winners" basket include Canada-headquartered Telus and France's Capgemini . The below table highlights non-U.S. stocks in Barclays' basket of AI stocks.

Persons: FactSet, Emmanuel Cau, Capgemini, Goldman Sachs Organizations: Barclays, Nvidia, Microsoft, Telus, France's, Tech, Companies, Tokyo Electron, SoftBank Group, SAP, UK's Sage Group, ASM Locations: Canada, U.S, Taiwan, Tokyo, Europe, Amsterdam

☆ Dutch curb chip equipment exports, drawing Chinese ire
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +4 min

"We have taken this step in the interest of our national security" said Dutch Trade Minister Liesje Schreinemacher, adding such equipment may have military applications. Schreinemacher said a "very limited" number of companies and product models would be affected, and China was not named. But the Chinese Embassy in the Netherlands described the move as an "abuse of export control measures" that violate trade rules. ASM International, which makes atomic layer deposition tools, said it did not expect a material change to its forecasts as a result of the Dutch rules, which also discuss that technology. The new Dutch list may later be adopted by other European countries or added to the EU list, though few European firms export high-end chipmaking equipment.

Persons: ASML, Liesje Schreinemacher, Schreinemacher, Toby Sterling, Louise Heavens, Mark Potter Organizations: Dutch Trade, Embassy, U.S, Washington, ASM International, Lam Research, Materials, Reuters, Union, EU, Zeiss, Thomson Locations: China, AMSTERDAM, U.S, Beijing, Netherlands, Dutch, Japan, Taiwan, ASML

☆ U.S., Dutch set to hit China's chipmakers with one-two punch
▼ + stars: | 2023-06-29 | by ( ) www.cnbc.com time to read: +4 min

Japan, home to chip equipment makers Nikon and Tokyo Electron , has since adopted rules to restrict exports of 23 types of semiconductor manufacturing equipment that will take effect July 23. ASML said in March it expects the Dutch regulations to affect its TWINSCAN NXT:2000i and more sophisticated models. But the company's older DUV models, like one called the TWINSCAN NXT:1980Di, could also be kept from about six Chinese facilities by the U.S. The new Dutch regulations will not take effect immediately, sources said, with one person expecting the effective date to be September, two months after publication. ASML is Europe's largest chip equipment company due to its dominance in lithography, one of the central steps in the computer chip making process.

Persons: Mark Rutte, Joe Biden, Liu Pengyu, ASML Organizations: . Commerce Department, Lam Research, Materials, Embassy, Nikon, Tokyo, U.S, SMIC, International Locations: Netherlands, U.S, China, United States, Washington, Japan, ASML'S, Almere

☆ Exclusive: US, Dutch set to hit China's chipmakers with one-two punch
▼ + stars: | 2023-06-29 | by ( Karen Freifeld | ) www.reuters.com time to read: +4 min

ASML said in March it expects the Dutch regulations to affect its TWINSCAN NXT:2000i and more sophisticated models. But the company's older DUV models, like one called the TWINSCAN NXT:1980Di, could also be kept from about six Chinese facilities by the U.S. The new Dutch regulations will not take effect immediately, sources said, with one person expecting the effective date to be September, two months after publication. ASML is Europe's largest chip equipment company due to its dominance in lithography, one of the central steps in the computer chip making process. Other companies that could be impacted by the new Dutch rules include atomic layer deposition firm ASM International.

Persons: Liu Pengyu, ASML, Karen Freifeld, Toby Sterling, Anna Driver, Stephen Coates Organizations: . Commerce Department, Lam Research, Materials, Embassy, Nikon Corp, Tokyo Electron, U.S, SMIC, International, Thomson Locations: United States, Netherlands, U.S, China, Washington, Japan, ASML'S, Almere, Amsterdam

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