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☆ Forget Nvidia: Morgan Stanley says Intel's much-hyped AI chip will boost 3 global stocks
▼ + stars: | 2024-04-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The launch of Intel 's latest artificial intelligence chip is expected to benefit three global semiconductor companies, according to Morgan Stanley. The semiconductor giant said the latest chip is twice as power-efficient and can run AI models one-and-a-half times faster than Nvidia's H100 GPU – the flagship product from the current AI chip market leader. In a research note Monday, the Wall Street bank said Taiwanese companies TSMC , Alchip , and Wistron are likely to be the biggest beneficiaries of the demand for Intel's Gaudi chips. In its note, Morgan Stanley reiterated its overweight rating on Alchip and TSMC, considering them long-term winners of AI semiconductor demand. The analysts are overweight on Wistron too, noting that Nvidia's new Blackwell GB200 AI chip will also drive immediate growth for the Taiwanese electronics manufacturer.

Persons: Morgan Stanley, Gaudi, Alchip, Wistron, Morgan Stanley's, Charlie Chan, Blackwell, — CNBC's Michael Bloom Organizations: Intel, Gaudi, Dell, Hewlett Packard Enterprise, Lenovo, Microsoft, Google Locations: United States

☆ 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

☆ 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

☆ Japan's TDK Corp to manufacture iPhone battery cells in India - minister
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

A man takes a video inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Dec 4 (Reuters) - Japanese electronic parts maker TDK Corp (6762.T) will manufacture lithium ion (li-ion) battery cells for Apple (AAPL.O) iPhones in India, a minister said on Monday. loadingApple has been touting India as its next big growth driver as it looks to move some production away from China. Cells manufactured at the facility will be supplied to Apple's li-ion battery assembler Sunwoda Electronics, the report added. Apple and TDK Corp did not immediately reply to Reuters' request for comment.

Persons: Francis Mascarenhas, TDK, Information Technology Rajeev Chandrasekhar, Manvi, Varun Organizations: Apple, REUTERS, Rights, TDK Corp, Information Technology, Twitter, Business, Reuters, Thomson Locations: Mumbai, India, iPhones, China, Wistron, Haryana, Manvi Pant, Bengaluru

☆ Tata to make iPhones in India after buying Wistron business
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Tata Group is seen at a business meeting organised by the Confederation of Indian Industry (CII) in New Delhi March 23, 2009. REUTERS/Vijay Mathur/File Photo Acquire Licensing RightsNEW DELHI, Oct 27 (Reuters) - Tata Group is set to start assembling Apple (AAPL.O) iPhones in India after Wistron Corp (3231.TW) approved the sale of its Indian manufacturing unit to the salt-to-software conglomerate, a minister said on Friday. A Tata company will start making iPhones in India for domestic and global markets, Deputy Minister for Information Technology Rajeev Chandrasekhar said on social media platform X. The Wistron board approved the sale of Wistron InfoComm Manufacturing India Private Limited to Tata Electronics Private Limited for an estimated $125 million, according to a statement from the Taiwan-based supplier shared by the minister. Apple has been touting India as its next big growth driver as it looks to move some production away from China.

Persons: Vijay Mathur, Information Technology Rajeev Chandrasekhar, Wistron, Narasapura, Munsif Vengattil, Blassy Boben, Alexander Smith Organizations: Tata Group, Confederation of Indian Industry, REUTERS, Apple, Wistron Corp, Tata, Information Technology, India, Limited, Tata Electronics Private Limited, Wistron, Pegatron Corp, Thomson Locations: New Delhi, DELHI, iPhones, India, Taiwan, China, Karnataka

People are seen outside the main gate of the Pegatron facility following a fire incident at the facility near Chennai, India, September 26, 2023. REUTERS/Praveen Paramasivam Acquire Licensing RightsCHENGALPATTU, India Sept 26 (Reuters) - A production shutdown at Apple supplier Pegatron's (4938.TW) India iPhone factory is expected to extend into Wednesday and disruptions could last longer as authorities investigate a fire at the Taiwanese firm's only India plant, four sources said. One of the sources said Apple representatives were collaborating with Pegatron after the incident. The affected Pegatron India plant accounts for 10% of Apple's iPhone production in the country. Pegatron, which started iPhone assembly in India in September last year, is also in talks to open a second Indian contract facility for Apple near the existing one in Tamil Nadu.

Persons: Praveen, Pegatron, Praveen Paramasivam, Aditya Kalra, Kim Coghill, Jacqueline Wong Organizations: REUTERS, Apple, India iPhone, Pegatron Corporation, Reuters, Thomson Locations: Chennai, India, TW, Chengalpattu, Tamil Nadu, Wistron, Indian

CHENNAI, Sept 25 (Reuters) - Apple supplier Pegatron temporarily halted iPhone assembly at its facility in south India on Monday after a fire on Sunday night, three sources familiar with the matter told Reuters. Pegatron accounts for 10% of Apple's iPhone production in India, according to research firm Counterpoint. Apple has bet big on India since it began iPhone assembly in the country in 2017 via Wistron (3231.TW) and later Foxconn (2317.TW), as the Indian government pushed for local manufacturing. Pegatron, which started iPhone assembly in India in September last year, is also in talks to open a second Indian contract facility for Apple near the existing one in Tamil Nadu. In February, a fire at a south Indian facility of Foxlink for iPhone charging cables forced it to halt production.

Persons: TW, Pegatron, Ben Blanchard, Praveen, Munsif Vengattil, Aditi Shah, Sarah Wu, Toby Chopra, Susan Fenton, Mark Potter Organizations: Apple, Pegatron, Reuters, Local, Thomson Locations: CHENNAI, India, Chennai, Tamil Nadu, Wistron, Indian

☆ Recent disruptions at Apple facilities in India
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Sept 25 (Reuters) - Apple (AAPL.O) supplier Pegatron on Monday temporarily halted iPhone assembly at its Chennai facility in India's Tamil Nadu state after a fire at the factory. Apple has been eyeing a large manufacturing base in India since it began iPhone assembly in the country in 2017. Apple products in India are currently manufactured through contracts with firms including Foxconn (2317.TW), Wistron Corp (3231.TW) and Pegatron Corp (4938.TW). It has a total of 14 suppliers with facilities in India. Apple later found facilities did not meet required standards.

Persons: Pegatron, Apple, Blassy, Mark Potter Organizations: Apple, Wistron Corp, Pegatron Corp, Workers, Thomson Locations: DELHI, Chennai, Tamil Nadu, India, Chittoor, Andhra Pradesh, Tamil, Karnataka

☆ Nvidia and more: Morgan Stanley reveals its favorite global stocks to play 'a pivotal moment for AI'
▼ + stars: | 2023-08-24 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Analysts at Morgan Stanley picked several global stocks they say are set to benefit from the artificial intelligence trend, from semiconductors to server companies. "The 2024 earnings for AI stocks are higher than they were on July 1, and fundamentals for AI companies look even better," Morgan Stanley said in a note to investors seen by CNBC Tuesday, titled "A Pivotal Moment for AI." The analysts also described AI stocks as "materially cheaper today than they were last month." Morgan Stanley said this is a "pivotal moment for NVDA and the AI supply chain," adding that investors should "prepare for potential AI opportunities." In Japan, Morgan Stanley named Disco Corporation , a maker of semiconductor manufacturing devices, for its "meaningful demand increase from generative AI-related Equipment."

Persons: Morgan Stanley, Shawn Kim, Morgan, — CNBC's Michael Bloom, Yeo Boon Ping Organizations: CNBC, Nvidia, Revenue, Taiwan Semiconductor Manufacturing Company, China Semiconductors, Global Unichip Corp, chipmaker SK Hynix, Samsung, Disco Corporation Locations: Greater China, China, South Korea, Japan

☆ iPhone 15 production begins in India as Apple aims to diversify from China: Report
▼ + stars: | 2023-08-16 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

Apple supplier Foxconn is beginning production of the iPhone 15 in India as the company moves forward with its effort to diversify its manufacturing from China, Bloomberg reported Wednesday. Foxconn's Sriperumbudur plant is getting ready to deliver the new phones weeks after they begin shipping from China-based factories, Bloomberg reported, citing unnamed sources. After a meeting with India Prime Minister Narendra Modi at the White House this year, Apple CEO Tim Cook told CNBC that India represents a "huge opportunity." Apple has more recently ramped up iPhone production in India, assembling more than $7 billion worth there in the last fiscal year, Bloomberg earlier reported. Prior to that, iPhone assembly in India lagged China by six to nine months, Bloomberg reported, but that gap has significantly closed.

Persons: Sundar Pichai, Tim Cook, Narendra Modi, Foxconn's, Biden, Pegatron Organizations: Apple, Washington , D.C, Foxconn, Bloomberg, U.S, India, CNBC, Tata Group, YouTube Locations: Washington ,, India, China, iPhones

HONG KONG/TAIPEI, July 21 (Reuters) - Investors are putting aside geopolitical tensions to pile in to Taiwan stocks, with foreign inflows the biggest in years, thanks to soaring artificial intelligence and chipmaking stocks. Rather, investors say it's all the more sturdy as the bogged-down conflict deters Chinese action and risks can be managed by keeping positions liquid with one eye on a possibly quick exit. "A potential escalation of events in the Taiwan Strait down the line is less relevant for these investors," he said. "So that makes Taiwan’s AI supply chain very attractive for foreign investors, and we believe their fund inflows will continue to be strong throughout the year." Investors say Taiwan's market is uniquely positioned to benefit because it is exposed to the sector's growth from applications to components, where demand is rebounding.

Persons: Carlos Casanova, Warren Buffett, we've, Frank Benzimra, Hai, Andrew Swan, Goldman Sachs, Clarence Chan, Summer Zhen, Kim Coghill Organizations: Nasdaq, Union Bancaire, Taiwan Semiconductor Manufacturing, Societe Generale ., Accton Technology, Hai Precision Industry, Wistron Corp, Alchip Technologies, Ark Investment Management, Vanguard, PineBridge Investments, Mellon Investment Management, Thomson Locations: HONG KONG, TAIPEI, Taiwan, Asia, Ukraine, Taiwan Strait, China, Taipei, Japan, PineBridge Investments Asia, Alchip, Asia Pacific, Hong Kong

☆ India's slow progress in becoming a chipmaking powerhouse to rival China is bad news for Apple
▼ + stars: | 2023-07-12 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Apple has long depended on China for manufacturing, but the relationship is getting complex. Two recent developments suggest India's push to become a viable alternative to China — and benefit Apple — are mixed. "Foxconn has determined it will not move forward on the joint venture with Vedanta," Foxconn said in a statement to Reuters. That's a critical blow to Modi, who set out chip manufacturing as a strategic part of his ambitions to level up India. Vedanta chairman Anil Agarwal tweeted that the joint venture meant "India's own Silicon Valley is a step closer now."

Persons: Foxconn, —, China's, Luxshare, JP Morgan, Tim Cook, Modi, Madhuri Dixit, Mukesh Ambani, Narendra Modi, That's, Europe's, Anil Agarwal, Agarwal Organizations: Apple, Apple ., Tata Group, Bloomberg, Vedanta, Reuters Locations: China, India, Asia, China's hawkishness, Taiwan, Vietnam, Beijing, Mumbai, iPhones, Karnataka, Modi's, Gujarat, Cupertino

☆ Indian government meets Foxconn, Samsung, Reliance to improve PLI scheme
▼ + stars: | 2023-06-28 | by ( Shivangi Acharya | ) www.reuters.com time to read: +2 min

REUTERS/Carlos Garcia RawlinsNEW DELHI, June 28 (Reuters) - The Indian government met large global firms such as Foxconn (2354.TW), Samsung Electronics (005930.KS) and Reliance Industries (RELI.NS) to find ways to boost manufacturing in the country with its production-linked incentive (PLI) scheme. The PLI scheme, introduced in late 2020, is Prime Minister Narendra Modi's main industrial policy to boost manufacturing. The government has so far announced incentives for 14 sectors including electronics and technology products, pharmaceutical drugs, and drones, among others, drawing investments totalling 625 billion Indian rupees ($7.62 billion) until March 2023, per the statement. Investments under the PLI scheme are expected to rise further to 2.74 trillion rupees as it runs its course, according to government estimates. With more than 1.97 trillion rupees earmarked for incentives, payouts totalled 29 billion rupees until fiscal 2023 across eight industries.

Persons: Carlos Garcia Rawlins, Piyush Goyal, Narendra, Shivangi Acharya, Janane Organizations: REUTERS, Samsung Electronics, Reliance Industries, India's Trade, Dell, Nokia Solutions, Investments, Thomson Locations: Taipei, Taiwan, DELHI, New Delhi

☆ Factbox: Amazon to Walmart, investors in India boost Modi ahead of vote
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

AMAZONAmazon Web Services said it planned to invest $13 billion in India by 2030 to build its cloud infrastructure and create thousands of jobs. APPLE (AAPL.O)The U.S. tech giant launched its first company-owned store in Mumbai last month and then another in New Delhi. CISCO SYSTEMS (CSCO.O)The U.S. networking equipment maker will begin manufacturing from India as it looks to diversify its global supply chain. It has set a target of $1 billion in production and exports from India over the next few years. WALMART (WMT.N)The retail giant's CEO met Modi this month and reiterated that the company planned exports from India worth $10 billion a year by 2027.

NEW DELHI, May 17 (Reuters) - India on Wednesday unveiled an expanded incentive scheme to attract big-ticket investments in IT hardware manufacturing, doubling the amount to $2 billion as it aims to spur domestic production of laptops and tablets. "It will create additional incentives for companies to set up their manufacturing base in India," India's deputy IT minister Rajeev Chandrasekhar said. These companies are expected to produce nearly $41 billion of IT products and create more than 75,000 jobs, the government said. The original incentive plan was announced in February 2021 with a $1 billion outlay. "We believe this scheme will help IT hardware sector to achieve the same level of success India had with smartphone manufacturing," said Ali Akhtar Jafri, Director General at MAIT.

Apple mainly assembles iPhones in India through Taiwan contract manufacturers but plans to expand into iPads and AirPods, as it looks to cut reliance on China. His comments came after a meeting on Wednesday with Apple Chief Executive Tim Cook in the capital, New Delhi. He inaugurated an Apple store in New Delhi on Thursday two days after opening its first outlet in Mumbai, the commercial capital. "We've come here only to see Tim Cook," said Manika Mehta, 32, an Android phone user who queued at the Delhi store. I'm drawn to Tim Cook, seeing the man he is and the journey."

“From education and developers to manufacturing and the environment, we’re committed to growing and investing across the country,” Cook wrote on Twitter following the meeting. The California-based giant is the world’s second biggest smartphone maker behind Samsung (SSNLF), but its 6% share of the Indian market remains small. Apple has also been ramping up its manufacturing in India, where it first began making iPhones in 2017. In recent months, it has expanded production there after suffering supply chain snags in mainland China, which accounts for the bulk of its smartphone manufacturing. Last month, Foxconn CEO Young Liu also spent a week in the country and met with Modi.

MUMBAI, April 18 (Reuters) - About 300 people queued at Apple's (AAPL.O) store in Mumbai on Tuesday, as fans took selfies with Chief Executive Tim Cook, who inaugurated the first retail store run by the tech giant in India, underscoring the importance of its market. "We are so excited to open ... our first store in India." People flocked to the store from across India, hoping to be among the first to enter, in an opening event featuring local music and folk dancers. Some queued outside from the previous night to get their hands on Apple products, even though they are available online in India. [1/8] Apple CEO Tim Cook interacts with people as Deirdre O'Brien, Apple's senior vice president of Retail and People looks on, during the inauguration of India's first Apple retail store in Mumbai, India, April 18, 2023.

☆ Why India is so important to Apple
▼ + stars: | 2023-04-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

Cook said in February that Apple had its best sales quarter ever for iPhones in India in the quarter ending in December. Most phones sold in India are priced below even the least-expensive new Apple iPhone. India could end up being a big winner as Apple looks for non-Chinese manufacturing options. Tim Cook, Apple's Chief Executive Officer (CEO) reacts as a man shows him Apple's Macintosh outside the Apple store at Jio World Drive mall, Mumbai, India on April 18, 2023. Apple was bullish on India back then, too: "India will be the most populous country in the world in 2022," Cook told CNBC's Jim Cramer at the time, saying it had "huge market potential."

☆ Tim Cook opens first Apple store in India
▼ + stars: | 2023-04-18 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

“We’re excited to build on our long-standing history — supporting our customers, investing in local communities, and working together to build a better future.”Apple's newest store in Mumbai, India. AppleIn a separate statement Monday, Apple (AAPL) shared a peek of its new Mumbai store, located at a property owned by Reliance Industries, the conglomerate of Indian tycoon Mukesh Ambani. Apple products are considered too expensive by many consumers in the country. In 2020, Apple launched an online store in India, allowing customers to buy its products and, for the first time, customize certain devices. Apple had previously planned to open its first physical store in the country in 2021, though that was derailed by the Covid-19 pandemic.

Cook will meet Modi on Wednesday in New Delhi, said the two sources, who included an Indian government official. One of the sources added the Apple chief would also meet India's deputy IT minister Rajeev Chandrasekhar. Modi's office declined to comment, while Apple and the IT ministry did not immediately respond to requests for comment. The sources did not elaborate, but Cook's meetings come amid Apple's growing focus on India, the world's second-largest smartphone market. The Mumbai store is in the premier Reliance Jio World Drive mall, home to luxury clothing and jewellery brands like Michael Kors, Kate Spade and Swarovski.

☆ Apple is finally opening its first retail store in India
▼ + stars: | 2023-04-06 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Apple is finally getting ready to open its first physical store in the country as it bets on India as a market and manufacturing base. Its previous plan to open a store in the country in 2021 was derailed by the coronavirus pandemic. Apple is preparing to open its first physical store in India, in the commercial and financial hub of Mumbai. The launch would come more than 20 years since the California-based giant first entered the Indian market through third-party resellers. In 2020, the company launched an online store in India, allowing customers to buy its products and also, for the first time, customize certain devices.

☆ Apple to open first company-owned retail store in India
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, April 5 (Reuters) - Apple Inc (AAPL.O) is set to open its first official retail store in India's financial hub of Mumbai, the iPhone maker said on Wednesday. The Cupertino, California-based company launched an online retail store in India in 2020. Its 2021 plans for the launch of an offline retail store in the country were delayed due to the COVID-19 pandemic. Apple products have been sold in India for years on ecommerce platforms such as Amazon.com Inc (AMZN.O) and Walmart Inc's (WMT.N) Flipkart as well as through resellers. Some products in Apple's catalogue, including iPhones, are assembled in India by Taiwanese contract electronics manufacturers Foxconn (2317.TW) and Wistron Corp (3231.TW).

NEW DELHI, March 24 (Reuters) - Apple Inc's (AAPL.O) Taiwanese supplier Pegatron Corp (4938.TW) is in talks to open a second India factory, said two sources with direct knowledge of the matter, as the U.S. tech giant's partners continue to diversify production away from China. Pegatron currently accounts for 10% of Apple's iPhone production in India on an annualised basis, research firm Counterpoint said. The talks for starting a second Pegatron facility on lease are ongoing and it will be located inside Mahindra World City near Chennai, just around where the company inaugurated the first plant in September 2022. India is the second biggest smartphone market in the world, where Apple also plans to assemble iPad tablets and AirPods. Last week, Reuters reported Foxconn has plans to build a $200 million factory in India to produce the wireless earphones for Apple after winning a contract.

☆ Exclusive: Apple supplier Foxconn wins AirPod order, plans $200 mln factory in India - source
▼ + stars: | 2023-03-16 | by ( Yimou Lee | ) www.reuters.com time to read: +4 min

One source said Foxconn will invest more than $200 million in the new India AirPod plant in the southern Indian state of Telangana. The decision to set up production in India was requested by Apple, according to the source. Apple and its key suppliers have been shifting production away from China, where strict COVID-19 curbs disrupted Foxconn's biggest iPhone factory last year. Foxconn said on Wednesday it would ramp up investment outside China to meet customer demand and lower its reliance on China for production. It was not immediately clear whether Foxconn's production plan would have impact on current AirPod suppliers, including Luxshare Precision Industry (002475.SZ).

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