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☆ D1 Capital slashes big tech holdings and adds new bet on hotels, real estate
▼ + stars: | 2023-08-14 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Sundheim also added 59% to a position in Jack Dorsey's Block in the second quarter, now worth $101 million. D1 also exited its position in tech giants Amazon , Alibaba and Salesforce in the second quarter, the filing showed, and sold 21% of a stake in Google parent Alphabet. Meanwhile, D1 added new semiconductor holdings. Elsewhere, D1 added to positions in General Electric , Insulet and Elevance Health . The firm managed about $27 billion at the end of the second quarter, according to WhaleWisdom.com , including about $5 billion in 13F securities.

Persons: Dan Sundheim's, Sundheim, Jack Dorsey's Block Organizations: Capital Partners, U.S . Securities, Exchange Commission, Facebook, Microsoft, AMD, Nvidia, General Electric, Elevance Health, Nation Entertainment Locations: Hilton

☆ Chip shortage in Germany's car industry will last years - Audi manager
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

[1/3] Cars are pictured during morning rush hour on the A100 city highway in a Berlin, Germany, February 22, 2018. REUTERS/Fabrizio Bensch/File PhotoBERLIN, Aug 11 (Reuters) - Semiconductor shortages that have created bottlenecks for Germany's car industry will take years to resolve despite chipmakers' plans to build factories in the country, a senior Audi manager was quoted as saying on Friday. Executives and policymakers are re-thinking supply lines and trying to reduce reliance on a handful of Asian and U.S. chip suppliers. Chipmakers such as U.S. Intel (INTC.O) and Taiwan's TSMC (2330.TW) this year announced plans to build factories in Germany. It's about billions of dollars are being invested," Renate Vachenauer, head of procurement at Volkswagen-owned (VOWG_p.DE) Audi, was quoted as saying by Augsburger Allgemeine newspaper.

Persons: Fabrizio Bensch, chipmakers, Taiwan's TSMC, Renate Vachenauer, Vachenauer, Riham Alkousaa, Cynthia Osterman Organizations: REUTERS, Semiconductor, Audi, Intel, Volkswagen, Augsburger Allgemeine, Thomson Locations: Berlin, Germany, U.S

☆ Japan eyes tax break for domestic EV battery, chip production - Nikkei
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration/File PhotoTOKYO, Aug 11 (Reuters) - Japan plans to create tax breaks for domestically-made electric vehicle (EV) batteries and semiconductors from April 2024 to enhance economic security, the Nikkei newspaper reported on Friday. For the government's fiscal 2024 tax code revision, the Ministry of Economy, Trade and Industry will propose the tax cuts for companies manufacturing strategically crucial items in Japan, Nikkei said. The ministry will draft the specifics including applicable items by end of this year, the report said. To secure supply chains for strategic goods, Japan has also unveiled billion-dollar subsidies for chipmakers such as Taiwan Semiconductor Manufacturing (2330.TW) and Micron Technology (MU.O) to build plants in Japan, and enacted the Economic Security Promotion Act last year.

Persons: Florence Lo, Akin, Kantaro Komiya, Kim Coghill Organizations: REUTERS, Nikkei, European Union, Ministry, Economy, Trade, Industry, U.S, Taiwan Semiconductor Manufacturing, Micron Technology, Economic, Thomson Locations: Japan, United States, China

"The situation is already very bad for dollar-based funds to invest in China's tech sector. There isn't much room for things to get worse," said Beijing-based China Growth Capital partner Wayne Shiong. Biden's move will likely make China-focussed venture capital firms feel more urgency to raise yuan funds from Chinese investors, he said. In response to Biden's executive order, China's commerce ministry said it was "gravely concerned" and reserved the right to take countermeasures. But the executive order is barely going to do anything, and China escalating would risk turning a molehill into a mountain."

Persons: Florence Lo, Joe Biden's, Donald Trump, Weiheng Chen, Wilson Sonsini, Biden, Chen, Wayne Shiong, Biden's, Yuan, Pan, Trump, Derek Scissors, Kane Wu, Michael Martina, Roxanne Liu, Ziyi Tang, Yantoultra, Sumeet Chatterjee, William Mallard Organizations: REUTERS, U.S, Reuters Graphics Reuters, China Growth Capital, Chinese Academy of Social Sciences, TECH, Hua Hong Semiconductor, Analysts, American Enterprise Institute, Thomson Locations: China, U.S, HONG KONG, WASHINGTON, Beijing, Washington, Shanghai, Hong Kong, Singapore, Bengaluru

☆ Taiwan pitches deeper Europe engagement after TSMC Germany investment
▼ + stars: | 2023-08-09 | by ( Ben Blanchard | ) www.reuters.com time to read: +3 min

TAIPEI, Aug 9 (Reuters) - Taiwan chipmaker TSMC's (2330.TW) 3.5 billion euros ($3.83 billion) investment in Germany will drive deeper engagement between the island and Europe, Taiwan's economy minister said on Wednesday, pitching the political benefits of the deal. "TSMC's investment in Europe will help bring even closer cooperation between Taiwan and the EU," Taiwan Economy Minister Wang Mei-hua told reporters in Taipei, when asked if signing the BIA would get more Taiwanese chipmakers to the bloc. Taiwan has repeatedly called for progress on a BIA with the European Union. The EU included Taiwan on its list of trade partners for a potential bilateral investment agreement in 2015, but it has not held talks with Taiwan on the issue since. The TSMC investment in Germany will need approval by Taiwan's economy ministry, and Wang said they will also consider the company's "vigorous" investments at home when weighing the German plans.

Persons: Wang Mei, Wang, TSMC, Ben Blanchard, Jeanny Kao, Stephen Coates Organizations: European Union, BIA, Washington, EU, Trade Organisation, Reuters, Thomson Locations: TAIPEI, Taiwan, Germany, Europe, Beijing, Taipei, United States, Japan

☆ Apple and Samsung to invest in SoftBank's Arm at IPO -Nikkei
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File PhotoTOKYO, Aug 8 (Reuters) - Apple (AAPL.O) and Samsung Electronics (005930.KS) will invest in SoftBank Group (9984.T)-owned chip designer Arm at its initial public offering (IPO), expected in September, Japan's Nikkei newspaper reported on Tuesday. Reuters reported in June that Arm was in talks with some ten companies - including Apple, Samsung and Intel (INTC.O) - with the aim of bringing on one or more anchor investors in the offering. Last month, Reuters and other media reported that Arm was in talks to bring in U.S. chip designer Nvidia (NVDA.O) as an anchor investor for the New York listing. Apple, Samsung, Nvidia and Intel all plan to invest in Arm as soon as it is listed on the market, the Nikkei said. Apple, Nvidia and Intel did not immediately respond to a Reuters' request for comment.

Persons: Dado Ruvic, SoftBank, Masayoshi, Anton Bridge, Elaine Lies, Joyce Lee, Akash Sriram, Louise Heavens, David Dolan, Miyoung Kim, Sharon Singleton Organizations: REUTERS, Samsung Electronics, SoftBank, Japan's Nikkei, Reuters, Apple, Samsung, Intel, Nvidia, New, Nikkei, U.S . Securities, Exchange Commission, Vision Fund, Thomson Locations: KS, New York, Tokyo, Seoul

☆ China chipmaker Hua Hong posts modest gains in Shanghai debut
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Aug 7 (Reuters) - Hua Hong Semiconductor, China's second-largest chip foundry, posted modest gains in its Shanghai debut on Monday, reflecting a weak market sentiment and investor caution amid mounting Sino-U.S. chip rivalry. Hua Hong shares opened 13% higher on Shanghai's tech-focused STAR Market, but quickly faltered. The Shanghai Composite Index (.SSEC) was down 0.6%, while Hua Hong's Hong Kong-listed shares declined more than 7%. Randall said the money raised by Hua Hong is not huge in a capital-intensive industry, but shows chipmakers are broadening fundraising channels in addition to government backing. Hua Hong will use most of the proceeds to boost capacity at a facility in Wuxi, in eastern Jiangsu province, according to the company's prospectus.

Persons: Hua, Hua Hong, Joe Biden's, Stewart Randall, Randall, Li Gu, Brenda Goh, Mo Yelin, Muralikumar Anantharaman, Himani Organizations: Hua Hong Semiconductor, Hua Hong, Trump, Washington, Thomson Locations: SHANGHAI, Shanghai, U.S, Hong Kong, Beijing, Washington . U.S, China, Wuxi, Jiangsu

☆ Shares of China's second largest chip foundry Hua Hong jump 13% in Shanghai debut
▼ + stars: | 2023-08-07 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Shares of the chipmaker opened on the Nasdaq-style Star Market at 58.88 Chinese yuan, according to Refinitiv data. That's a 13.2% jump from its offer price of 52 Chinese yuan ($7.23). The Shanghai-listed shares have since pared gains and were trading lower at 53.99 Chinese yuan on Monday afternoon. Hua Hong's Shanghai debut raised 21.2 billion yuan ($2.95 billion) — in what was the largest IPO in mainland China so far this year, according to EY's global IPO report. SMIC raised 46.28 billion yuan ($6.62 billion) during its IPO in 2020.

Persons: Hua Hong, Hua Hong's, Chips, Hong, Phelix Lee, Lee, SMIC Organizations: Huahong Group, Huahong, Getty, Shanghai Stock Exchange's, Semiconductor Manufacturing International Corp, Nasdaq, Morningstar Asia, Hua Locations: Shanghai, China, Hua Hong's Shanghai, Hong Kong, Beijing

☆ TSMC to decide in favour of German factory on Tuesday - Handelsblatt
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. REUTERS/Ann Wang/File PhotoBERLIN, Aug 7 (Reuters) - Taiwanese semiconductor manufacturer TSMC's (2330.TW) board of directors will decide in favour of building a factory in the German city of Dresden, the Handelsblatt daily reported on Monday, citing government sources. The German government will support the construction of the factory with 5 billion euros ($5.49 billion), according to the sources. TSMC, the world's largest contract chipmaker, has been in talks with the German state of Saxony since 2021 about building a fabrication plant, or "fab", in Dresden. It will operate the factory in a joint venture with partners Bosch (ROBG.UL), Infineon (IFXGn.DE) and NXP (NXPSM.UL), the sources told Handelsblatt.

Persons: Ann Wang, Bosch, Handelsblatt, Miranda Murray, Friederike Heine Our Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Infineon, European, Intel, Thomson Locations: Hsinchu, Taiwan, German, Dresden, Saxony, Berlin, Europe, Brussels

☆ Meet a millennial mom who resurrected her career with a 10-day crash course on semiconductors. She landed a new job, learned new skills, and says the pay outweighs long hours.
▼ + stars: | 2023-08-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +10 min

She enrolled in a 10-day semiconductor training course and landed a new job at Intel soon after. A few weeks later, she told Insider, she received an email about the "Quick Start" program — a 10-day crash course on how to be a semiconductor processing technician. The Quick Start program's website says that semiconductor companies will hire over 20,000 workers in Arizona in the coming years. Of 240 former Quick Start students who filled out an employment outcome form as of June 30th, 75, or 31%, said they had been "hired in field," per MCCC. "I start work at 5:45 AM, and I get off at 6:15 PM," she said.

Persons: Lisa Strothers, chipmakers, Strothers, Biden, Cesar Becerra, GlobalFoundries, —, Lisa Strothers Lisa Strothers, Intel's, she'd, Cesar Becerra Cesar Becerra, I'm, that's, there's Organizations: Intel, Schools, Service, Taiwan Semiconductor Manufacturing Company, Mesa Community College, Science, Deloitte, Micron, MCCC, Labor Statistics Locations: Wall, Silicon, Arizona, Arizona's Maricopa County, Maricopa County, China, Taiwan, Phoenix

☆ Infineon shares slump on Q4 warning, eyes Malaysia expansion
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

Infineon forecast revenue of around 4 billion euros ($4.37 billion) in the fourth quarter, below expectations of 4.14 billion euros, according to IBES data from Refinitiv. The company, however, confirmed its revenue outlook of around 16.2 billion euros, which it had raised in May. Infineon's third-quarter adjusted result was down 10% from the previous quarter at 1.067 billion euros, while its margin came in slightly lower than expected, at 26.1%. MALAYSIA FACTORYInfineon said it will invest 5 billion euros over the next five years to build a power chip plant in Malaysia, on top of the 2 billion euros investment it had planned last year. For the full year, Infineon expects investments amounting to approximately 3 billion euros.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Gartner, Jochen Hanebeck, Infineon's, China's Cherry, Miranda Murray, Christina Amann, Friederike Heine, William Mallard, Kim Coghill Organizations: Infineon Technologies, REUTERS, Infineon, AMD, Qualcomm, JPMorgan, Semiconductor, MALAYSIA, Ford, SAIC, Thomson Locations: Dresden, Germany, Malaysia, Refinitiv, Infineon's, Villach, Austria, German

☆ This tech fund manager has outperformed for 10 years using a unique 'value opportunity' strategy
▼ + stars: | 2023-08-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Even in a year with a huge tech stock rally, Columbia Global Technology Growth Fund (CTYRX) stands out for its outsized gains. The final bucket in the portfolio is value opportunity names, or stocks that Narang and his team believe have valuations cheaper than the entire portfolio. He cited data from Alliance Bernstein showing that tech stocks in the most expensive and least expensive quintiles tend to outperform historically — suggesting the attraction of a balanced approach. "Returns seesaw between growth and value over various periods of time," he added, noting this year's growth-oriented tech rally after last year's drubbing. Global mandate Over the last 11 years managing the fund, Narang called its "global mandate" both the biggest challenge and opportunity for him.

Persons: Rahul Narang, Narang, we're, It's, Bernstein, Morningstar Organizations: Columbia Global Technology Growth, Nasdaq, Morningstar . Columbia Management, California Polytechnic State, JPMorgan, Microsoft, Nvidia, Broadcom, Columbia, chipmakers, NXP Semiconductors, Taiwan Semiconductor Manufacturing Co, Samsung Locations: Morningstar, India

☆ Major global firms warn of slow China sales as post-pandemic surge fades
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +4 min

Aug 2 (Reuters) - From consumer goods giant Unilever (ULVR.L) to automaker Nissan (7201.T) and machinery maker Caterpillar (CAT.N), global firms have warned of slowing earnings in China as the world's second-largest economy loses its post-pandemic bounce. A continued rebound has been limited to a handful of sectors such as dining and luxury goods, driving double-digit China sales growth for the likes of Starbucks (SBUX.O) and LVMH (LVMH.PA). Volkswagen (VOWG_p.DE) cut its full-year sales target last week due to a sales dip in China, its top market. "Unfortunately, our (China) sales outlook is now falling far below our production capacity," Nissan CEO Makoto Uchida said last week. "We mentioned during our last earnings call that we expected sales in China to be below the typical 5% to 10% of our enterprise sales.

Persons: Graeme Pitkethly, we're, Makoto Uchida, Jim Umpleby, Jacob Stausholm, Louis Vuitton, Tiffany, Jean, Jacques Guiony, Mimosa Spencer, Sophie Yu, Brenda Goh, Richa Naidu, Melanie Burton, Daniel Leussink, Victoria Waldersee, Miranda Murray, Rishav Chatterjee, Deborah Sophia, Ananya Mariam Rajesh, Yuvraj Malik, Miyoung Kim, Christopher Cushing Organizations: Unilever, Nissan, Caterpillar, Starbucks, Procter, Gamble, L'Oreal, Global, Volkswagen, Samsung, SK Hynix, Apple, Rio Tinto, Tinto, Yum, HK, KFC, Kailyn, Thomson Locations: China, KS, Rio, Yum China, Kailyn Rhone, New York, Paris, Beijing, Shanghai, London, Melbourne, Tokyo, Victoria, Berlin, Bengaluru

☆ Here are the 9 smartest ways to invest in artificial intelligence right now, according to Bank of America, Morgan Stanley, and UBS
▼ + stars: | 2023-08-02 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Here's how Bank of America, Morgan Stanley, and UBS recommend investing in AI. Bank of America, Morgan Stanley, and UBS are more optimistic about AI stocks after each expressed hesitations earlier this year as shares of companies tied to the technology exploded higher. In contrast, Morgan Stanley has dismissed concerns that AI stocks are in a bubble. "Inevitably, the market will compare AI to the dot-com boom," wrote Morgan Stanley analyst Shawn Kim in a July report. As for chipmakers, Morgan Stanley agreed with Bank of America that the path forward is bifurcated.

Persons: Morgan Stanley, Marcelli, Art Cashin, Michael Hartnett, Shawn Kim, Mike Wilson, Morgan, Vivek Arya, Wilson Organizations: Wall, Bank of America, UBS, Americas, Nvidia, Marvell Technology, Broadcom, Cadence Design Systems, Bank of, Accenture, Microsoft, Taiwan Semiconductor Manufacturing Company, Consumer Locations: California, Snowflake, OpenAI

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. European shares gained modestly after euro zone inflation fell further in July seeing that most measures of underlying price growth also eased. "Data out this week should remain superficially consistent with the 'soft landing' narrative," Citi market strategists wrote in a note. Japanese 10-year yields surged to a nine-year high up to 0.6% on Monday, and toward the new cap of 1.0%. U.S. crude rose 1.63% to $81.89 per barrel and Brent was at $85.56, up 0.67% on the day.

Persons: Brendan McDermid, Florian Ielpo, Paul Christopher, Christopher, Austan Goolsbee, Sterling, Brent, Lawrence Delevingne, Nell Mackenzie, Nick Macfie, Will Dunham, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Dow Jones, Nasdaq, Apple Inc, Caterpillar Inc, Starbucks Corp, Devices, Markets, European Central Bank, Lombard, U.S, Citi, Intel, Lam Research, Wells Fargo Investment, Chicago Federal Reserve Bank, Bank of England, Bank of, Federal Reserve, Bank of Japan, Treasury, Thomson Locations: New York City, U.S, Wells Fargo, Boston, London

Second-quarter earnings for S&P 500 companies are estimated to have fallen 6.4% year-over-year, Refinitiv data through Friday showed. Citigroup raised its 2023-end and mid-2024 S&P 500 targets to 4,600 and 5,000, respectively, to reflect a higher possibility of a soft landing. According to preliminary data, the S&P 500 (.SPX) gained 7.64 points, or 0.17%, to end at 4,589.15 points, while the Nasdaq Composite (.IXIC) gained 29.37 points, or 0.21%, to 14,348.50. Nearly half of the top 11 S&P 500 sectors posted gains, led by a rise in energy stocks (.SPNY). Adobe (ADBE.O) stocks rose, outperforming tech peers, after Morgan Stanley raised its rating to "overweight" on the photoshop maker.

Persons: Dow, Ross Mayfield, Austan Goolsbee, Jay Hatfield, Johnson, Morgan Stanley, Echo Wang, Johann M Cherian, Vinay Dwivedi, Richard Chang Organizations: Citigroup, Nasdaq, Amazon.com, Apple, Baird, Intel, Lam Research, Chicago Fed, Dow Jones, Infrastructure Capital Advisors, SoFi Technologies, ON Semiconductor, Dow, Johnson, Adobe, Thomson, & & ' Locations: Louisville , Kentucky, New York, U.S, Bengaluru

☆ On Semiconductor forecasts robust Q3 revenue on silicon carbide strength
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

July 31 (Reuters) - Chipmaker ON Semiconductor Corp (ON.O) on Monday forecast third-quarter revenue above market estimates, on optimism that strong demand from the automotive sector will offset broader weakness in the semiconductor industry. Automotive chipmaker NXP last week forecast a strong third-quarter revenue and profit, exuding confidence over a steady automotive demand. Onsemi, which makes sensors and supplies chips to companies like Volkswagen (VOWG_p.DE), expects revenue between $2.10 billion to $2.20 billion in the third quarter. For the second quarter ended June 30, the company's revenue rose to $2.09 billion, ahead of analysts' expectations of $2.02 billion. The revenue was boosted by Onsemi's power solutions group, which provides power management chips, making up about 53% of total quarterly revenue.

Persons: Onsemi, Hassane El, Khoury, Zaheer Kachwala, Shailesh Organizations: ON Semiconductor Corp, NXP Semiconductors, chipmaker NXP, Volkswagen, Thomson Locations: Arizona, Bengaluru

Second-quarter earnings for S&P 500 companies are estimated to have fallen 6.4% year-over-year, Refinitiv data through Friday showed. The tech-heavy Nasdaq led Wall Street higher last week as megacap growth companies such as Alphabet (GOOGL.O), Meta Platforms (META.O) as well as chipmakers Intel (INTC.O) and Lam Research (LRCX.O) posted strong quarterly earnings. Citigroup raised its 2023-end and mid-2024 S&P 500 targets to 4,600 and 5,000, respectively, to reflect a higher possibility of a soft landing. Eight of the top 11 S&P 500 sectors posted gains, led by a 2% rise in energy stocks (.SPNY). The S&P 500 posted 27 new 52-week highs and one new low; the Nasdaq Composite recorded 95 new highs and 57 new lows.

Persons: Ross Mayfield, Austan Goolsbee, Jay Hatfield, Johnson, Morgan Stanley, decliners, Echo Wang, Johann M Cherian, Vinay Dwivedi, Richard Chang Organizations: Citigroup, Dow, Nasdaq, Amazon.com, Apple, Baird, Intel, Lam Research, Chicago Fed, Dow Jones, Infrastructure Capital Advisors, Financial, SoFi Technologies, ON Semiconductor, Johnson, Adobe, NYSE, Thomson, & & ' Locations: Louisville , Kentucky, New York, U.S, Bengaluru

☆ Western Digital's first-quarter forecast disappoints as weak cloud demand weighs
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

July 31 (Reuters) - Memory chipmaker Western Digital Corp (WDC.O) forecast a bigger-than-expected loss in the first quarter and revenue below Wall Street targets on Monday as weak demand, mainly for its cloud business, forces it to cut production. Cloud companies will take another "couple of quarters" to clear out excess inventory, finance chief Wissam Jabre said in June. Western Digital forecast its adjusted loss per share to be in the range of $2.10 to $1.80, compared to an estimated loss of $1.40 per share. It also forecast revenue for the same period below estimates. Rival Seagate Technology (STX.O) also forecast downbeat revenue for its first quarter last week, on weakness in major market China and lower tech spending.

Persons: Wissam Jabre, David Goeckeler, Goeckeler, Chavi Mehta, Stephen Nellis, Pooja Desai Organizations: Digital Corp, Seagate Technology, Western Digital, Samsung Electronics, SK Hynix, Thomson Locations: China, South, Bengaluru, San Francisco

Second-quarter earnings for S&P 500 companies are now estimated to have fallen 6.4% year-over-year, according to Refinitiv data. Citigroup raised its 2023-end and mid-2024 S&P 500 targets to 4,600 and 5,000, respectively, to reflect a higher possibility of a soft landing. Seven of the top 11 S&P 500 sectors gained, led by a 2.0% rise in energy stocks (.SPNY). The S&P index recorded 25 new 52-week highs and no new low, while the Nasdaq recorded 71 new highs and 37 new lows. Reporting by Johann M Cherian and Bansari Mayur Kamdar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Zaccarelli, Austan Goolsbee, Johnson, Morgan Stanley, Johann M Cherian, Vinay Dwivedi Organizations: Citigroup, Dow, Nasdaq, Apple, AMD, Independent, Alliance, Microsoft, Intel, Lam Research, Chicago Fed, Dow Jones, Financial, SoFi Technologies, ON Semiconductor, Johnson, UBS, Adobe, NYSE, Thomson, & & ' Locations: U.S, Xpeng, Bengaluru

[1/2] FILE PHOTO-A smartphone with a displayed AMD logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoGANDHINAGAR, India, July 28 (Reuters) - U.S. chipmaker Advanced Micro Devices (AMD.O) said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. Despite being a late entrant, the Modi government has been courting investments into India's nascent chip sector to establish its credentials as a chipmaking hub. "Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide," Papermaster said. Unlike its top rival Intel, AMD outsources production of chips it designs to third-party manufacturers like Taiwan's TSMC.

Persons: Dado Ruvic, Mark Papermaster, Narendra Modi's, Young Liu, Sanjay Mehrotra, Modi, Papermaster, Munsif, Aditya Kalra, Sonali Paul Organizations: REUTERS, Devices, Micron, AMD, India, Nvidia Corp, Intel, South, Samsung, Applied, chipmaker Micron, Thomson Locations: GANDHINAGAR, India, Bengaluru, Gujarat, Santa Clara , California, U.S, Gandhinagar

☆ Apple and these other companies reporting next week have a history of outperforming earnings expectations
▼ + stars: | 2023-07-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Although not an exact science, companies whose quarterly results exceed analyst estimates could see their shares rise in resulting enthusiasm. CNBC Pro screened for the companies scheduled to report earnings next week that also have a record of outperforming the Street's expectations. Apple The maker of the iPhone, iMac and iPad is set to report results Thursday after the bell. Yum China The Chinese restaurant holdings company, which includes KFC and Pizza Hut, has a record of topping earnings estimates 73% of the time. The company has a 75% record of beating earnings estimates and tops revenue forecasts 71% of the time.

Persons: Kraft Heinz, Steve Madden, CNBC's Michael Bloom, Fred Imbert Organizations: Apple, Qualcomm, Devices, Kraft, CNBC Pro, Investment, Bank of America, KFC Locations: Cupertino , California, China, Yum China

☆ Chipmakers signal supply glut easing but demand recovery still slow
▼ + stars: | 2023-07-28 | by ( Joyce Lee | ) www.reuters.com time to read: +5 min

"Demand is recovering very gradually," Woohyun Kim, chief financial officer at SK Hynix, said on an earnings call this week. "The recent improvement in PC shipments has been mainly led by promotions and low-end models, meaning it provided limited impact on chip demand recovery," he said, adding that shipment forecasts for PCs and smartphones this year have been downgraded from earlier predictions. Chipmakers are also increasing production of the high-end chips used to support AI related chips. SK Hynix said demand for AI server memory had more than doubled in the second quarter compared to the first quarter. The company leads the market in high bandwidth memory (HBM) DRAM used in generative AI.

Persons: Florence Lo, Canalys, Woohyun Kim, ChatGPT, Pat Gelsinger, SK Hynix, Logan Purk, Edward Jones, Lam, Tim Archer, 1,278.7400, Joyce Lee, Akash Sriram, Akshita, Chavi Mehta, Tanya Jain, Max A, Cheney, Stephen Nellis, Miyoung Kim, Miral Organizations: REUTERS, Intel, Samsung, SK Hynix, SK, chipmaker Texas, Wall, Manufacturers, KLA Corp, Lam Research, Thomson Locations: SEOUL, China, HBM, Seoul, Bengaluru, Max, San Francisco

☆ Intel results boost chip stocks on optimism PC market slump is ending
▼ + stars: | 2023-07-28 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

Intel is poised to add about $10 billion to its market value, based on its current price of $37. Intel's results lifted Advanced Micro Devices (AMD.O) and Nvidia (NVDA.O) by 3.2% and 2.3%, respectively, while Qualcomm (QCOM.O) advanced 2.6%. Although a titan of the American chip industry, Intel has fallen behind rivals such as Taiwan's TSMC and Nvidia both in terms of margins and market value as the PC market downturn and stiff competition in the data center market battered its business. Earnings reports from other chipmakers including Samsung (005930.KS) have also shown that the glut in the smartphone and PC markets is ending, but the outlook for demand from customers outside the AI industry remains gloomy. Intel has a 12-month forward price-to-earnings ratio of 31.10, compared with Nvidia's 43.26 and an industry median of 19.95.

Persons: Glenn O'Donnell, Forrester, Pat Gelsinger, Aditya Soni, Chavi Mehta, Savio D'Souza, Shounak Organizations: Intel, Devices, Nvidia, Qualcomm, Samsung, Rosenblatt Securities, Thomson Locations: KS, Bengaluru

☆ Senate approves expedited chip permitting process in an annual defense bill
▼ + stars: | 2023-07-28 | by ( Emily Wilkins | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSenate approves expedited chip permitting process in an annual defense billCNBC's Emily Wilkins joins 'The Exchange' to discuss Congressional allocation towards chipmakers, hurdles for the Senate defense policy consensus with the House, and more.

Persons: Emily Wilkins

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