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☆ Why Apple is betting big on India
▼ + stars: | 2024-04-22 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +26 min

I think one estimate put, at one point, I think China was producing something like 90% of the world's iPhones. So when we talk about, you know, Apple manufacturing elsewhere, it's going take a long time to significantly ramp up iPhone production elsewhere. And you know, opening a physical Apple store often for Apple is a sign of a big deal. But you know, Apple looking at India going, wow, we've only got 7% of market share there, we could grow huge amounts. And of course, as we know, with Apple, the hardware is the, you know, one side of the equation, but also, you know, Apple makes billions of dollars off of its services business, which includes things like its App Store fees, it's Apple Pay, Apple TV, all of those other products and services.

Persons: Tim Cook, Apple, it's, It's, Tom Chitty, we've, Arjun Kharpal, Arjun, they're, let's, hasn't, We've, they've, Apple's, that's, we're, There's, Narendra Modi, Arjun Kharpal It's, Tom Chitty Huawei, Kharpal Huawei, Tim Cook's, I've, haven't, He's, They've, Arjun Kharpal There's, Tom Chitty Oppo, Tom Chitty Xiaomi, Tom Chitty Samsung, You've, They're, Transsion, Tom, Tom Chitty I'm, Kharpal, Tom Chitty We'll Organizations: Apple, Bloomberg, CNBC, U.S, Arjun Kharpal It's Samsung, Samsung, China, Apple Watch, Huawei, IDC Locations: India, Foxconn, China, beyondthevalley@cnbc.com, Covid, Zhengzhou, Vietnam, Asia, Thailand, Indonesia, Southeast Asia, Mumbai, New Delhi, Xiaomi, Europe, U.S, Arjun Kharpal Vietnam, Hanoi , Vietnam, Hanoi, Taiwan, Beijing, America, Africa, The

☆ Elon Musk is heading to India. He could deliver a big win for Tesla and Narendra Modi
▼ + stars: | 2024-04-19 | by ( Diksha Madhok | ) edition.cnn.com time to read: +6 min

Apart from Tesla (TSLA), Musk is also the boss of rocket company SpaceX and X, formerly Twitter. If the investment in India is announced, it would be a boost to Modi’s efforts to make India a major global manufacturing hub. “We will support the growth of the automobile industry and its transition to EV manufacturing,” the manifesto said. In the fourth quarter of 2023, Tesla briefly lost its crown as the leader in global EV sales to Chinese automaker BYD. It recaptured the EV sales title from BYD in the first quarter, despite the drop in sales.

Persons: New Delhi CNN — Tesla, Elon Musk, Narendra Modi, Tesla, Musk, Modi, Pawan Chandana, “, Bharatiya Janata Party's, Sajjad Hussain, Bharat, ‘, India “, ”, ” Tesla Organizations: New, New Delhi CNN, Reuters, Skyroot Aerospace, CNN, Tesla, SpaceX, Twitter, Financial Times, India, Bharatiya Janata Party, BJP, Bharatiya Janata, Getty, Apple, Foxconn, Musk, India isn’t Locations: New Delhi, India, Shanghai, AFP, China, Beijing, Washington, United States, BYD, New York

☆ Apple plans to spend more in Vietnam as it looks beyond China
▼ + stars: | 2024-04-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

Apple (AAPL) has already spent almost $16 billion through its supply chain in the country since 2019, the government quoted Cook as saying. According to the statement, Cook said Apple “stands ready … to enhance cooperation and investment activities” in the Southeast Asian country. Nguyen, whose firm manages $6 billion in assets, told CNN that labor costs in Vietnam’s manufacturing sector are about half those in neighboring China. That’s a big draw for foreign tech companies looking to hire workers for their factories, and find consumers for their products. Still, Vietnam represents a far smaller market than India, which has also been wooing large foreign companies, including Tesla (TSLA), to set up factories in the country.

Persons: Tim Cook, Pham Minh Chinh, Cook, Apple “, Thuy Anh, Nguyen, Dan Ives, “ We’re, ”, “, Tuan Hung, Ho, That’s, Ives, Juliana Liu Organizations: London CNN, Apple, Vietnamese, Dragon, CNN, country’s Ministry of Planning, Investment, Wedbush Securities, Intel, Consumer, Monetary Fund Locations: Vietnam, China, Hanoi, Beijing, India, United States, Ho Chi Minh City, Washington, That’s, Europe

☆ India’s economy and elections: Is the hype around Narendra Modi’s vision justified?
▼ + stars: | 2024-04-16 | by ( Diksha Madhok | Rachel Wilson | ) edition.cnn.com time to read: +9 min

New Delhi/London CNN —In just a few days, India will commence the world’s largest democratic election. So, is the hype around Modi’s India, which remains a largely impoverished country, justified? The world’s largest biometric database has also helped the government save millions by reducing corruption in welfare initiatives. Domestic investors, both retail and institutional, have been driving India’s stock market to unprecedented peaks. Still, India’s economy, much like its democracy, is far from perfect.

Persons: Narendra Modi, Indranil Mukherjee, Modi, Himanshu Sharma, Guido Cozzi, Arun Sankar, Billionaire Elon Musk Organizations: London CNN —, Getty, CNN, World, University of St, Unified, Bank, ”, National Stock Exchange of India, bourse, Bombay Stock Exchange, NSE, Shenzhen Stock Exchange, Hong Kong Exchange, World Federation of Exchanges, Macquarie Capital, Apple, Foxconn, Billionaire, International Labour Organization Locations: New Delhi, London, India, China, Beijing, Ajmer, Rajasthan, University of St Gallen, Switzerland, Asia’s, Washington, Sriperumbudur, Chennai, Mumbai's Churchgate, AFP

☆ Tim Cook has arrived in Vietnam for a two-day trip, as Apple boosts ties with its key manufacturing hub
▼ + stars: | 2024-04-15 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +2 min

The Apple CEO has arrived in Hanoi, Vietnam to meet with Apple suppliers and content creators. Vietnamese manufacturing has been important for Apple as it moves away from dependence on China. AdvertisementTim Cook has arrived in Hanoi, Vietnam, to start a two-day trip to one of Apple's top manufacturing hubs. Apple also plans to boost its ties with local suppliers during the trip as well as help fund clean water projects and education opportunities, local newspaper VietnamNet wrote. The statement added that Apple supports the jobs of 200,000 people in Vietnam through direct employment, via suppliers, and as app developers.

Persons: —, Tim Cook, he's, Apple, VietnamNet, Foxconn Organizations: Apple, Service Locations: Hanoi, Vietnam, China

☆ Apple CEO Tim Cook visits Vietnam — one of the iPhone giant's most important manufacturing hubs
▼ + stars: | 2024-04-15 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Cook will meet with Apple users, developers and content creators during the two-day visit, local media reported. In December, the Nikkei reported Apple was moving some of its key iPad engineering resources to Vietnam. Apple CEO Tim Cook (C) walks near Hoan Kiem lake in downtown Hanoi during his visit to Vietnam on April 15, 2024. India has also emerged as a key hub for iPhone manufacturing. Cook's visit to Vietnam comes after 61 environmental and human rights groups called on Apple to oppose the country's detention of climate activists.

Persons: Tim Cook, Cook, Bryan Ma Organizations: Apple, International Data Corporation, IDC, Samsung, Nikkei, Apple Watch, Getty, CNBC, Bloomberg Locations: Hanoi, Vietnam, U.S, China, Cupertino, Hoan, Giang Huy, Afp, India, iPhones

☆ Apple doubles India iPhone production to $14 billion as it shifts from China: Report
▼ + stars: | 2024-04-10 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Apple produced $14 billion worth of iPhones in India over the last fiscal year, a sign of the company's continued effort to manufacture more devices outside of China, a report from Bloomberg said Wednesday. As relations between the U.S. and China have soured, Apple has worked to diversify its supply chain by expanding production in countries like Vietnam and India. Apple now makes around 1 in 7, or 14%, of its iPhones in India, twice the amount it produced there last year, the report said. In June 2023, Apple CEO Tim Cook and other tech executives met with India's prime minister, Narendra Modi, at the White House. A Counterpoint Research report from March found that iPhone sales in China dropped 24% in the first six weeks of 2024.

Persons: Tim Cook, Donald Trump, Pegatron, Foxconn, Wistron, Narendra Modi, Cook Organizations: Apple, American Workforce Policy, White, Washington , D.C, Bloomberg, U.S, CNBC, Huawei Locations: Washington ,, iPhones, India, China, Vietnam

Jared Kushner’s investment fund is not especially large by global finance standards. His $3 billion fund is financed almost entirely from overseas investors with whom he worked when he served as a senior adviser in the Trump White House. He has taken money from government wealth funds in Saudi Arabia, Qatar and the United Arab Emirates, as well as from Terry Gou, a founder of Foxconn, the Taiwan-based electronics manufacturer, whose role in Mr. Kushner’s firm has not been previously disclosed. Mr. Kushner’s firm, Affinity Partners, is collecting approximately $40 million a year in management fees from those investors even before any share of profits earned on investments. He has made 10 investments to date, totaling $1.2 billion, many of them in companies based abroad.

Persons: Jared, Donald J, Trump, Terry Gou, Kushner’s Organizations: Trump White House, United Arab, Foxconn, Securities and Exchange Commission, Mr, Affinity Partners Locations: Saudi Arabia, Qatar, United Arab Emirates, Taiwan

☆ How India is challenging China as Asia's tech powerhouse
▼ + stars: | 2024-04-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +30 min

New Delhi has sought to woo foreign tech companies and has been increasingly successful, with giants like Apple increasing their presence in the country. Tom Chitty: For years China has been Asia's tech powerhouse where the world's electronics and some of the biggest companies on the planet are located. And I think India is in the very early stages, to put it quite bluntly, of trying to do that. Tom Chitty: India have got an election this year as well, which is going to be interesting to see what happens there. You know, India has aligned itself slightly more to the countries that are currently a bit more anti-China, shall we say?

Persons: Tom Chitty, Arjun Kharpal, It's, Let's, I'm, Arjun, You'll, We're, we've, what's, gunning, Narendra Modi, it's, Tom, Modi, Trump, Apple, COVID, there's, Taiwan's, that's, Karen Tso, China's, Tim Cook, Raghuram Rajan, We've, feasibly, India's, let's, he's, you've, we'll, I've, We'll Organizations: Apple, CNBC, China, India's, Foxconn, Micron, Tata Electronics, Taiwan's Powerchip Semiconductor Manufacturing Corp, Reserve Bank of India, CCP, Samsung, Bain, India, London Locations: China, Tencent, Asia, India, Delhi, Washington, Beijing, American, COVID, U.S, Brazil, Vietnam, Indonesia, Thailand, Taiwan, South Korea, Bangalore, Goa, Kolkata, Mumbai, Europe, Silicon, New York, Germany

☆ Apple supplier Foxconn posts 9% fall in first-quarter revenue, sees growth ahead
▼ + stars: | 2024-04-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Pictured here is a Foxconn factory in Zhengzhou city on Sept. 4, 2021. Apple iPhone manufacturer Foxconn on Friday posted a dip of 9.6% in revenue for the first quarter of 2024, compared to the same period last year. The company, which trades as Hon Hai Precision Industry in Taiwan, recorded a first-quarter revenue of 1.32 trillion New Taiwan dollars ($41.2 billion), which was also 28.58% lower compared to the fourth quarter of last year. It was also below economists' expectations in an LSEG poll. However, the company expects revenue to grow in the second quarter, despite noting that it "remains a traditional off-peak season."

Organizations: Apple, Hai Precision Industry Locations: Zhengzhou, Taiwan

☆ The Taiwan earthquake is a stark reminder of the risks to the region’s chipmaking industry
▼ + stars: | 2024-04-03 | by ( Clare Duffy | ) edition.cnn.com time to read: +6 min

Chipmakers and governments, including the US government, have in recent years invested billions in efforts to diversify chip production, but many experts worry that process is not happening fast enough. TSMC produces an estimated 90% of the world’s most advanced semiconductor chips, which power countless devices people rely on daily. Still, even an hours-long shutdown of certain chip production could take weeks to recover from. The race to diversify chipmakingWednesday’s earthquake will likely only add pressure to efforts underway for years to grow chipmaking capacity outside of Taiwan. Experts say it’s a sign that the diversification of the chip supply chain is not moving quickly enough to account for the risks of remaining concentrated in Taiwan.

Persons: chipmaker, TSMC, ” TSMC, ”, David Bader, ” Bader, facilites, wasn’t, Joe Unsworth, Foxconn —, Angelo Zino, Joe Biden Organizations: New, New York CNN, Taiwan Semiconductor Manufacturing Company, Apple, Qualcomm, Nvidia, AMD, Institute for Data Science, New Jersey Institute of Technology, Barclays, Tech, United Microelectronics Corporation, Micron Locations: New York, Taiwan, chipmaking, China, United, Japan, Germany, United States, Arizona

☆ Nvidia's partners and more: BofA picks key global stocks along the AI supply chain
▼ + stars: | 2024-03-27 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

But many smaller firms along the global AI supply chain also stand to benefit. It has worked with Google for over a decade, thanks to its ability to produce highly customized server design, BofA noted. With rising AI server applications and GPU supply, it expects the AI server GPU baseboard business to account for 3% to 6% of Wistron's total sales in 2024 and 2025. Hardware tech Hardware tech such as printed circuit boards are the upstream parts of the AI server supply chain. In addition, its partnership with Nvidia in automotive AI should widen its AI opportunities, BofA noted.

Persons: BofA, there's, Microsoft's OpenAI, Unimicron, — CNBC's Michael Bloom Organizations: Big U.S, Nvidia, Microsoft, Global, Google, Semiconductors Locations: Big, Taiwan, Greater China, Asia

☆ Fisker shares halted as EV company navigates uncertain future
▼ + stars: | 2024-03-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Shares of Fisker, a California-based electric vehicle startup, were halted Monday. Its sole product, the Fisker Ocean electric SUV, was produced in Austria under contract by third-party manufacturer Magna Steyr. Last year, 10,000 SUVs were produced but, in its earnings report, the company said only about half had been delivered to customers. The video was titled, “This is the Worst Car I’ve Ever Reviewed.”“Do not buy this version of the Fisker Ocean,” reads the video’s description. But, besides its own quality issues, Fisker had to deal with much greater competition from established automakers than had existed when the company was established.

Persons: Fisker’s, Fisker, Henrik Fisker, Marques Brownlee, ” Organizations: CNN, Reuters, Nissan, Magna Steyr, Mercedes, BMW, EV, American YouTube, Consumer, Automotive News, Hyundai, Kia, Ford, General Motors Locations: California, Alaska, Austria, Ohio, American

☆ Apple supplier Foxconn sees strong 2024 as Q4 beats forecasts
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +2 min

The outlook has turned rosier since Foxconn Chairman Young Liu said in November the world's largest contract electronics maker had "relatively conservative and neutral" expectations for 2024. The profit beat a T$43.52 billion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate. In the fourth quarter, consumer electronics including smartphones accounted for 58% of revenue while cloud and networking products, including servers, contributed 20%. Foxconn said it expects revenue for the first quarter to slightly decline from a year earlier, with revenue for smart computer electronics also likely to drop in the period. Apple last month reported sales and profit that beat Wall Street estimates, powered by growth in its iPhone business though its China sales missed analysts' targets.

Persons: 20JUL16 SCMP, Nora Tam, Foxconn, Young Liu Organizations: South China Morning, Getty, Foxconn, Hai Precision Industry Co, Apple, Wall Locations: Foxconn, Longhua, Shenzhen, 20JUL16, South, China

☆ Taiwan wants to hire Indian workers. What’s skin color or religion got to do with it?
▼ + stars: | 2024-03-05 | by ( Diksha Madhok | Wayne Chang | ) edition.cnn.com time to read: +4 min

New Delhi/Hong Kong CNN —Taiwan has swung into damage control mode after its labor minister made controversial comments about the skin color, religion and diets of some Indians ahead of a potential drive to recruit migrant workers to the island. In a separate apology, Taiwan’s labor ministry said Hsu implied “absolutely no discriminatory connotation when she mentioned ‘similar skin color’ in the interview. CNN has reached out to India’s Ministry of External Affairs for comments. In February, Taiwan said it will hire migrant workers from India to ease its labor shortage, but did not share any other details. Taipei currently allows migrant workers from Thailand, Vietnam, Indonesia and Philippines to work in the island, according to the labor ministry.

Persons: Hsu Ming, chun, ”, ” Hsu, Hsu, Hsu’s, Taiwan’s Foxconn, ” Young Liu, ” Liu, Padma Bhushan Organizations: Hong Kong CNN, Taiwan, Yahoo, Labor, CNN, India’s Ministry, Affairs, Padma, Bloomberg Locations: New Delhi, Hong Kong, Taiwan, India’s, India, China, Bangladesh, Myanmar, Covid, “ India, Japan, South Korea, Taipei, Thailand, Vietnam, Indonesia, Philippines

☆ India GDP: Country’s economy ended 2023 ‘with a bang’ as growth surged to 8.4%
▼ + stars: | 2024-02-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

Gross domestic product in India surged 8.4% in the final three months of 2023 compared with a year prior, up from growth of 7.6% in the June-to-September period, the country’s statistics office said Thursday. The latest rise is much stronger than analysts expected and means India’s economy “ended last year with a bang,” Thamashi De Silva, assistant India economist at Capital Economics, wrote in a note. “That pace of growth was the strongest among major economies last quarter,” she said, also noting that in 2023 as a whole GDP grew 7.7%. Analysts at Jefferies expect the country to become the world’s third-largest economy by 2027, up from fifth currently. But “any slowdown in growth will be mild, particularly as the government’s infrastructure drive is likely to prop up activity,” she added.

Persons: “, Thamashi De Silva, ”, Narendra Modi, Elon Musk, India “, Modi, ” Musk, De Silva Organizations: London CNN, Gross, Capital Economics, Monetary Fund, Jefferies, Apple Locations: India, China, Washington, Beijing

☆ The Apple Car is dead, and Elon Musk is speaking at its funeral
▼ + stars: | 2024-02-28 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Apple is scrapping its electric car project, per new reports, and Elon Musk has something to say. AdvertisementApple is killing its electric car project, and Elon Musk is here to deliver an eulogy. The tech giant is pulling the plug on its decadelong electric car project, Bloomberg reported on Tuesday, citing sources familiar with the matter. Many employees involved in the car project will now be moved to the company's AI division, but there could be layoffs among Apple's engineers and car designers, per Bloomberg. Even though Apple is a trillion-dollar tech behemoth, Musk said in 2015 that he wasn't threatened by their interest in the electric car market.

Persons: Elon Musk, Tesla, Musk, — Organizations: Apple, Service, Bloomberg, Tesla, Business Insider Locations: Handelsblatt

☆ Why India’s economy under Modi offers a real alternative to China
▼ + stars: | 2024-02-26 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

The market value of companies listed on India’s exchanges crossed $4 trillion in late November. But the country is stuck in recession and recently lost its position as the world’s third biggest economy to Germany. While interest in the world’s fifth largest economy is rising, the lofty prices of India’s stocks are scaring some international investors away. According to Macquarie, retail investors alone own 9% of India’s equity market value versus foreign investors at slightly under 20%. China “has a few too many companies which are $100 and $200 billion plus [in value],” Mittal said.

Persons: Peeyush Mittal, there’s, ”, Mittal, They’ve, Narendra Modi, Indranil Mukherjee, Jefferies, “, MSCI, Aditya Suresh, Modi’s, Modi, there’ll, ” Suresh, shoring, Hubert de Barochez, Elon Musk, India “, ” Musk, Suresh, Satish Babu, China “, ” Mittal, Priyanka Agnihotri, Nirmala Sitharaman Organizations: New, New Delhi CNN —, Matthews Asia, Getty, Macquarie Capital, Bharatiya Janata Party, Monetary Fund, Jefferies, Capital Economics, Apple, Foxconn, ”, Workers, Chennai Metro Rail, Advisory, Indian Locations: New Delhi, Jaipur, San Francisco, India, China, Shanghai, Shenzhen, Hong Kong, Japan, Germany, Beijing, Washington, “ India, Macquarie, Chennai, Baltimore

☆ Major companies in China are setting up their own volunteer armies
▼ + stars: | 2024-02-21 | by ( Laura He | ) edition.cnn.com time to read: +12 min

Hong Kong CNN —Chinese companies are doing something rarely seen since the 1970s: setting up their own volunteer armies. According to China’s Military Service Law, male militia members should be 18 to 35 years old. It was latest in a slew of militias established by major Chinese companies in the past year. After 1949, when the party took control of mainland China, the units were eventually embedded into governments, schools and companies. This can, in the long run, save the PLA resources by delegating some duties to militia forces to care for,” Heath said.

Persons: Xi, ”, Neil Thomas, Nuo Nuo, Huang Zhiqiang, Qilai Shen, Liu Jie, Mao Zedong, Mao, Timothy Heath, homebuyers, Heath, ” Heath, Willy Lam, Sam Yeh, ” Lam, China’s Organizations: Hong Kong CNN, CNN, People’s Armed Forces Departments, America’s National Guard, Communist, Asia Society, Center for, Communist Party, China Labour Bulletin, Foxconn, Yili, Armed Forces Department, China’s Military Service Law, People’s Liberation Army, PLA, government’s Communist Party, Inner Mongolia Autonomous, Bloomberg, Getty, Shanghai Municipal Investment Group, Construction Investment, Development, Defense Ministry, People’s Armed Police, Armed, Rand Corporation, Jamestown Foundation, Party, Taiwan Locations: China, Hong Kong, Center for China, Beijing, Zhengzhou, Henan, Hohhot, Inner Mongolia, Yili, Shanghai, Mengniu, Nantong city, Jiangsu, Huizhou city, Guangdong, Wuhan, Hubei province, People’s Republic, United States, Taiwan, Fangchenggang City, Guangxi, ”, PLA, Taiwan's, AFP

☆ How 3 stocks are navigating the economic tug-of-war between the U.S. and China
▼ + stars: | 2024-02-21 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Just consider three core holdings in the portfolio: Apple , Starbucks , and Nvidia . Nvidia generates 21% of its overall revenue from Mainland China, while Apple gets 19%, and Starbucks 9%. Xiamen-based Luckin Coffee, for example, overtook Starbucks in market share in China during 2023, with double the retail locations there. However, Nvidia still dominates the AI chip market in China, and it's difficult to see its rivals catching up anytime soon. The company has twice re-engineered chips for the Chinese market to comply with U.S. rules.

Persons: Joe Biden's, Xi Jinping, Oppo, Jefferies, Tim Cook, Laxman Narasimhan, Tencent, Jim Cramer's, Jim Cramer, Jim Organizations: U.S, Apple, Nvidia, Starbucks, Competition, Huawei, International Data Corporation, IDC, CNBC, Luckin, China, Management, Tech Locations: China, Beijing, Washington, U.S, Mainland China, People's Republic, India, Xiamen

☆ Big Tech’s next key market is India. Here’s how four Club portfolio names are playing it
▼ + stars: | 2024-02-16 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Just days after delivering a stellar quarter, Microsoft CEO Satya Nadella was on a whirlwind speaking tour throughout India. The Indian market also represents a largely untapped market that will diversify revenue streams. Over the summer, India became Amazon's first market in Asia to launch its dedicated virtual cargo airline , dubbed Amazon Air. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Satya Nadella, Morgan Stanley, Chetan Ahya, Ahya, Bernstein, Nadella, Zev Fima, Fima, Tim Cook, Amazon, Sundar Pichai, Jim Cramer's, Jim Cramer, Jim Organizations: Microsoft, Apple, country's Ministry, Skill Development, Entrepreneurship, Club, Foxconn Technology, Media, Amazon, Walmart, Web Services, Google, CNBC Locations: India, Mumbai, Bengaluru, New Delhi, China, Asia, United States, Chennai, Puna, Hyderabad, Tamil Nadu, India's, Gujarat

☆ Veteran investor David Roche says the market is getting it wrong on Taiwan's election result
▼ + stars: | 2024-01-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Taiwan's President Tsai Ing-wen speaks as Lai Ching-te, Taiwan's vice president and the ruling Democratic Progressive Party's (DPP) presidential candidate looks on during a campaign rally ahead of the elections in Taipei, Taiwan, January 11, 2024. Carlos Garcia Rawlins | ReutersTaiwan's election results place the island on a "collision course with China" and the market reaction has been too sanguine, according to veteran investor David Roche. Beijing has already dismissed the outcome of Saturday's elections, which saw the ruling Democratic Progressive Party's Lai Ching-te elected president alongside a split parliamentary vote. The DPP rejects the so-called "One China principle" and advocates a separate and distinct Taiwanese national identity. Xi has repeatedly stated that Taiwan will be reunified with China, and has not ruled out using military force to achieve his goals.

Persons: Tsai Ing, Lai Ching, Democratic Progressive Party's, Carlos Garcia Rawlins, David Roche, Party's Lai Ching, Roche, CNBC's, Lai, Xi Jinping, Xi Organizations: Democratic Progressive, Reuters, Democratic, DPP, Independent, CSI, Chinese Communist Party, Citi, KMT Locations: Taipei, Taiwan, China, Beijing

☆ What’s at stake for the global economy as Taiwan goes to the polls
▼ + stars: | 2024-01-13 | by ( Laura He | ) edition.cnn.com time to read: +7 min

That pushed Taiwan’s trade surplus with China to an enormous $80.5 billion in 2023. For Taiwan, China has been its favorite investment stop for decades. China imports electronic components or precision machine tools from Taiwan, assembles them and exports the finished products to global markets. China may respond to a DPP victory by putting military and economic pressure on the island, Vest said. In 2022, China retaliated after Pelosi’s visit by banning imports of a range of food products from Taiwan.

Persons: Xi Jinping, Lai Ching, Lai, ”, Charlie Vest, Nancy Pelosi’s, Tsai Ing, Kevin McCarthy, they’re, ” Vest, Mike Kai Chen, Vest, there’s Organizations: Hong Kong CNN, Communist Party, Democratic Progressive Party, US, Taiwan’s Ministry of Economic Affairs, Imports, Hsinchu Science, Bloomberg, Getty, Capital Economics, Taiwan Semiconductor Manufacturing Company, Apple, Foxconn, Analysts, Atlantic Locations: China, Hong Kong, Taiwan, Beijing, Taiwan Strait, California, United States, Europe, Japan, South Korea, “ Taiwan, Hsinchu, Hsinchu Science Park

☆ TSMC and more: Goldman Sachs loves these Asian tech stocks, giving one 37% upside
▼ + stars: | 2024-01-12 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

"While we expect a very modest cyclical recovery as a whole, we continue to look for opportunities among individual stocks," Goldman Sachs' analysts, led by Daiki Takayama, wrote in the note, naming buy-rated names — including four conviction list stocks — to play the theme. The bank's conviction list comprises its top buy-rated stock ideas that are expected to beat the market. SK Hynix South Korean chipmaker SK Hynix was among the stocks that made Goldman's list of buy-rated names that are also on its conviction list. Goldman gave the stock a price target of 3,300 Japanese Yen ($22.78) implying upside of around 37.7%. Meanwhile, the bank has a target price of 29 Chinese yuan ($4.07) on Foxconn, giving it around 124.6% potential upside.

Persons: Goldman Sachs, Daiki Takayama, Hynix, Goldman, it's bullish, Hai, CNBC's Michael Bloom Organizations: SK Hynix South, SK Hynix South Korean chipmaker SK Hynix, Korean, Taiwan Semiconductor Manufacturing Company, Electronics, Industrial, Renesas Electronics, Apple Locations: SK Hynix South Korean, Taiwan, Shanghai

☆ Microsoft briefly tops Apple as most valuable public company
▼ + stars: | 2024-01-11 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Microsoft on Thursday briefly yanked the title of most valuable publicly traded company from Apple in early trading. Also last week, Microsoft said device makers will soon introduce Windows PCs with a Copilot key on their keyboards for fast access to the software maker's artificial intelligence assistant. Microsoft also stole from Apple the bragging rights for most valuable public company in 2018 and in 2021. But two years ago, Apple became the first company to exceed $3 trillion in market capitalization. Oil and gas production company Saudi Aramco briefly controlled the title before Apple took it back.

Persons: Apple, iPhones, Piper Sandler Organizations: Microsoft, Apple, The New York Times, U.S . Department of Justice, Barclays, Saudi Aramco, CNBC PRO

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