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A woman looks at a new iPhone 15 Pro and a Huawei Mate 60 Pro as Apple's new iPhone 15 officially goes on sale across China, at an Apple store in Shanghai, China September 22, 2023. Research firm Canalys estimated that overall smartphone sales in China fell 3% in July-September from a year earlier as consumers bought fewer smartphones as an economic recovery was choppy. On the other hand, analysts estimate that Huawei's China smartphone sales grew strongly in the quarter. Apple said on Thursday that its overall sales in China dipped 2.5% but it blamed tough Mac computer and iPad sales for that. Aggressive discounting on the iPhone 15 series in the run up to the annual Singles Day shopping festival by major Chinese online retailers is also encouraging demand.

Persons: Aly, Tim Cook, Apple, Cook, Canalys, Apple's, Huawei's, Yuvraj Malik, Bengaluru ， Stephen Nellis, Yelin, Arsheeya Bajwa, Harshita Varghese, Sayantani Ghosh, Gerry Doyle Organizations: Huawei, Apple, REUTERS, Huawei Technologies, Reuters, Research, HK, Taobao, Pro Max, Qualcomm, Thomson Locations: China, Shanghai, Bengaluru ，, San Francisco, Yelin Mo, Beijing, Bengaluru

☆ Apple hints at an AI-focused future and ‘scary fast’ upgrades
▼ + stars: | 2023-11-01 | by ( Samantha Kelly | ) edition.cnn.com time to read: +4 min

The focus of the event, which featured the tagline “scary fast,” was Apple’s new custom-made M3 chips, the M3, M3 Pro and M3 Pro Max. The chips will ship with Apple’s latest MacBook Pro and iMac lineup. “This deep integration is something only Apple can deliver, and we never stop innovating.”At a time companies such as Microsoft, Google and Meta have openly discussed their plans for an AI future, Apple has been less forthcoming. Apple said it shipped about 26 million Macs in 2022, making up 9.1% of the overall market (up from 7.8% the year prior). At the same time, the overall PC market shipped about 292 million computers the same year, down 15% from the year before.

Persons: Tim Cook –, –, they’re, ” Cook, Apple, ”, Dipanjan Chatterjee, Forrester, “, Tim Cook, Chatterjee, David McQueen, ” McQueen, Kieren Jessop Organizations: CNN, Apple, Max, Microsoft, Google, Meta, Lenovo, Dell, HP, IDC Research, Apple Music, ABI Research, Intel, Qualcomm, AMD, NVIDIA, MacBook Locations: Cupertino , California, China

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. Executives at both the companies talked up the stabilizing PC market on earnings calls this week and said they expected the integration of artificial intelligence to boost growth. "The arrival of the AI PC represents an inflection point in the PC industry," said Intel CEO Pat Gelsinger. AMD boss Lisa Su said she "expected some growth going into 2024 as we think about sort of the AI PC cycle and some of the (Microsoft) Windows refresh cycles". Still, some investors see the lack of AI apps as a potential hurdle for their adoption.

Persons: Dado Ruvic, Pat Gelsinger, Lisa Su, Justin Sumner, Canalys, Dave Egan, Arsheeya Bajwa, Akash Sriram, Chavi Mehta, Krishna Chandra Organizations: REUTERS, Intel, Devices, AMD, Microsoft, Voya Investment Management, Graphics, Columbia, Thomson Locations: Bengaluru

☆ Chinese consumer stocks that analysts like for their global potential
▼ + stars: | 2023-10-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

"We expect Miniso to report another strong quarter in 1QFY24," Jefferies analysts wrote in an Oct. 24 report. Xiaomi shares are up more than 20% so far this year despite a more than 10% slump in the broader Hong Kong stock market. "We believe good shipment momentum and resilient margins could support a strong 3Q23," the Morgan Stanley report said. The analysts have an overweight rating on Xiaomi shares with a 15 Hong Kong dollar price target — up 11% from Friday's close. Shares of Transsion, not covered in the Morgan Stanley report, are up nearly 70% so far this year.

Persons: Miniso, Jefferies, Xiaomi, Morgan Stanley, Canalys, Morgan, Andre Chang, Chang, —, JD.com —, — CNBC's Michael Bloom Organizations: Hong Kong Locations: 1QFY24, China, New York, Hong Kong, Canalys, Friday's, Shanghai, Shenzhen, Africa, India, Morgan China

☆ China smartphone shipments fall 5% y/y in Q3 to 66.7 mln handsets -Canalys
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Oct 26 (Reuters) - Smartphone shipments in China fell 5% year-on-year in the third quarter to 66.7 million handsets, research firm Canalys reported on Thursday. The Honor smartphone brand took first place by sales, while Huawei's market share rose, reaching that of leading manufacturers due to its new Mate 60 products, Canalys said. Reporting by Shanghai newsroom and Liz Lee; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Canalys, Liz Lee, Jamie Freed Organizations: Shanghai, Thomson Locations: BEIJING, China

☆ Intel forecasts fourth-quarter revenue above expectations
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsOct 26 (Reuters) - Intel (INTC.O) forecast fourth-quarter revenue above Wall Street estimates on Thursday, optimistic of a healthy rebound in client orders for its chips after a several-quarters-long inventory buildup in the PC market eased. The company forecast adjusted current-quarter revenue in the range of about $14.6 billion to $15.6 billion, compared with an estimate of $14.35 billion, according to LSEG data. The company expects adjusted profit per share to be about 44 cents, beating an estimate of 32 cents. Reporting by Chavi Mehta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, chipmaker, Canalys, Chavi Mehta, Krishna Chandra Organizations: REUTERS, Intel, Taiwan Semiconductor Manufacturing, Thomson Locations: Santa Clara , California, Bengaluru

China's decision may escalate trade disputes globally and spur other countries to prioritize research into alternative sources and materials, industry executives said. "We see China's move as a potential catalyst to highlight the urgency of improving (U.S.) graphite supply," said John DeMaio, president of Graphex Group's (6128.HK) graphene division. It has graphite supply deals with Syrah Resources (SYR.AX) and is looking for other sources, DeMaio said. Synthetic graphite could account for nearly two-thirds of the EV battery anode market by 2025, Benchmark Mineral Intelligence estimates. Chief Operating Officer Hans Erik Vatne told Reuters recently that developing synthetic graphite production is costly, but that is the price to pay to reduce reliance on China.

Persons: Fabian Bimmer, John DeMaio, Graphex Group's, DeMaio, Tesla, Hans Erik Vatne, Rob Anstey, Alvin Liu, Akash Sriram, Ernest SCheyder, Nick Carey, Christina Amann, Marie Mannes, Gilles Guillaume, Ilona Wissenbach, Ben Klayman, Josie Kao Organizations: Volkswagen, REUTERS, Syrah Resources, Magnis Energy Technologies, Mineral Intelligence, Reuters, EVs, BMO Capital Markets, BMW, Volvo, Renault, General Motors, Ford, Thomson Locations: Salzgitter, Germany, China, Warren , Michigan, West, U.S, Europe, Oslo, Norway, Bengaluru, Houston, London, Berlin, Stockholm, Paris, Frankfurt

☆ PC demand is back, says Acer CEO who sees robust growth in the 'foreseeable future'
▼ + stars: | 2023-10-20 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

"We have seen the demand reach the bottom during about the May timeframe this year and ever since that, the demand has come back. For Q3, we have already seen year-to-year growth," chairman and CEO Jason Chen told CNBC's Emily Tan. Acer is the world's fifth-largest player in the PC market with a 6.4% market share, according to Canalys. But the boom in PC sales came to an end, when global PC shipments declined sharply in the first quarter of 2022. "PCs today, together with the display business, monitor business, is contributing about two-thirds of our business.

Persons: Jason Chen, Emily Tan, Chen Organizations: Lenovo, HP, Dell, Apple, Acer Locations: Taiwan, China, Southeast Asia, Japan, Korea, India

☆ US electric-vehicle sales hit record high, Tesla loses market share - report
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

The company logo is pictured on a Tesla Model X electric vehicle in this picture illustration taken in Moscow, Russia July 23, 2020. REUTERS/Evgenia Novozhenina/File Photo Acquire Licensing RightsOct 12 (Reuters) - Electric vehicle (EV) sales in the United States jumped to more than 300,000 for the first time in the third quarter, but industry leader Tesla's market share slipped to the lowest on record, a report by Cox Automotive showed on Thursday. "Higher inventory levels, more product availability, and downward pricing pressure have helped spur continued linear growth of EV sales in the U.S. market," Cox said. The price war started by Tesla has brought average EV prices down to $50,683 in September, down from $52,212 in the prior month, Cox added. Reuters GraphicsTotal EV sales for the third quarter rose nearly 50% from a year ago, and accounted for a record 7.9% of total industry sales, the report showed.

Persons: Evgenia, Tesla's, Tesla, Cox, Canalys, Zaheer Kachwala, Devika Organizations: Tesla, REUTERS, Cox Automotive, Elon, Reuters, Rivian, Thomson Locations: Moscow, Russia, United States, U.S, Bengaluru

☆ Swedish EV maker Polestar's deliveries rise 50% in Q3
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Victoria Klesty/File Photo Acquire Licensing RightsCompanies Polestar Automotive Holding Uk Plc FollowOct 5 (Reuters) - Polestar Automotive Holding's deliveries of electric vehicles (EV) rose 50% in the third quarter from a year earlier, sending its shares up about 3% in premarket trading. The Swedish EV maker, however, reported a quarterly decline of 12% in deliveries to 13,900 units, compared with the second quarter, as high borrowing costs dent global demand for new vehicles. Globally, EV sales grew 49% to 6.2 million units in the first half of the year, a report by data analytics firm Canalys Research showed. Polestar Automotive, which is scheduled to announce its third-quarter results on Nov. 8, reiterated its tempered delivery forecast of 60,000-70,000 vehicles for the full year. The company expects to start deliveries of the Polestar 4 compact luxury crossover in China in the current quarter.

Persons: Arsheeya, Shweta Agarwal Organizations: REUTERS, Polestar Automotive, EV, Research, Polestar, Thomson Locations: Oslo, Norway, Victoria, Swedish, China, Bengaluru

☆ Apple CEO Tim Cook makes $41 mln from biggest stock sale in two years
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] Apple CEO Tim Cook attends the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. REUTERS/Loren Elliott/File Photo Acquire Licensing RightsOct 4 (Reuters) - Apple (AAPL.O) Chief Executive Officer Tim Cook made $41.5 million after taxes in his biggest share sale in two years, a U.S. securities filing showed. Cook sold 511,000 shares, which were worth about $87.8 million before accounting for taxes, according to the filing dated Tuesday. The Apple chief owns about 3.3 million shares, valued at about $565 million, following the sale, the filing showed. A report from research firm Canalys showed North American smartphone shipments were expected to fall 12% in 2023.

Persons: Tim Cook, Loren Elliott, Cook, Chavi Mehta, Akash Sriram, Anil D'Silva Organizations: Apple, REUTERS, KeyBanc, Thomson Locations: Cupertino , California, U.S, United States, American, Bengaluru

☆ EV maker Rivian beats Q3 delivery estimates after raising production
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

A Rivian R1T electric truck is seen outside Munro & Associates headquarters in Auburn Hills, Michigan, U.S., June 3, 2022. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsSAN FRANCISCO, Oct 2 (Reuters) - Electric-vehicle maker Rivian Automotive (RIVN.O) on Monday reported third-quarter deliveries above analysts' estimates, as it ramped up production to meet a sustained demand for its pickup trucks and sport-utility vehicles (SUVs). Rivian, which makes R1T pickup trucks and R1S SUVs, delivered 15,564 vehicles in the quarter ended Sept. 30, compared with Visible Alpha estimates of 14,740 vehicles and up 23% from the second quarter. It produced 16,304 vehicles at its facility in Normal, Illinois, up from 13,992 in the second quarter. That means Rivian has to make just more than 12,300 vehicles in the current quarter to hit its full-year target.

Persons: Rebecca Cook, Tesla, Rivian, Abhirup Roy, Zaheer Kachwala, Arun Koyyur Organizations: Munro & Associates, REUTERS, FRANCISCO, Rivian, Cox Automotive, U.S, EV, Canalys Research, Thomson Locations: Auburn Hills , Michigan, U.S, The Irvine , California, Normal , Illinois, San Francisco, Bengaluru

Tesla vehicles are seen for sale at a Tesla facility in Fremont, California, U.S., May 23, 2023. Shares of the EV maker reversed course to rise marginally after dropping nearly 3% following the news of the delivery miss. Tesla has also been cutting prices aggressively to counter the effect of a slowing EV market, while fending off competition from upstarts and legacy players. Meanwhile, electric-pickup maker Rivian Automotive (RIVN.O) reported third-quarter deliveries above analysts' estimates and reaffirmed its annual production target of 52,000 vehicles. Deliveries of Tesla's premium vehicles, Model S and Model X, rose to about 16,000 units in the third quarter.

Persons: Carlos Barria, Tesla, Thomas Martin, Reuters Graphics Tesla, Ashwin Amberkar, Aditya Soni, Akash Sriram, Arun Koyyur, Anil D'Silva 私 Organizations: REUTERS, Ford, Globalt Investments, Reuters Graphics, Rivian, US, Canalys Research Locations: Fremont , California, U.S, China, United States, Bengaluru

☆ US says it has no evidence that Huawei can make advanced smartphones ‘at scale’
▼ + stars: | 2023-09-20 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Commerce Secretary Gina Raimondo says the US government has no evidence that Huawei can produce smartphones with advanced chips “at scale,” as it continues to investigate how the sanctioned Chinese manufacturer made an apparent breakthrough with its latest flagship device. On Tuesday, Raimondo told US lawmakers that she was “upset” by news of the launch of Huawei’s Mate 60 Pro during her visit to China last month. “The only good news, if there is any, is we don’t have any evidence that they can manufacture 7-nanometer [chips] at scale,” she told a US House of Representatives hearing. That surprised many because SMIC, a partially state-owned Chinese company, has also been subject to US export restrictions for years. The following year, the US government expanded on those curbs by seeking to cut Huawei off from chip suppliers that use US technology.

Persons: Gina Raimondo, Raimondo, China’s, TechInsights, Ivan Lam, Kevin Frayer, Toby Zhu, Zhu, Lam, — Rashard Rose, Mengchen Zhang Organizations: Hong Kong CNN —, Huawei, Kirin, Semiconductor Manufacturing International Corporation, CNN, SK Hynix, Huawei ”, Research, IT, Eurasia Group Locations: China, Hong Kong, Korean, Beijing, Shenzhen, Apple’s

Alibaba Group sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. Zhang also handed over the role of group CEO to Wu on Sunday as scheduled. "Alibaba Cloud has lost some ground with government and state-owned enterprise clients, which were previously a stronghold for the company," Li said. "During his leadership tenure, Alibaba Cloud's business did not improve significantly despite his efforts. Zhang likely realised that the challenges facing Alibaba Cloud's lacklustre growth were beyond what he could influence or control as an individual executive."

Persons: Aly, Daniel Zhang, Alibaba, Eddie Wu, Zhang, Wu, Canalys, Li Chengdong, Li, Sern Ling, Union Bancaire Privee, Donny Kowk, Josh Ye, Yelin, Anne Marie Roantree, Brenda Goh, Muralikumar Anantharaman, Christopher Cushing Organizations: Artificial Intelligence, REUTERS, China's, Reuters, DAMO Academy, Huawei Technologies, Union Bancaire, HK, Thomson Locations: Shanghai, China, HONG KONG, Hong Kong, HK, Alibaba, Beijing, Yelin Mo

Some analysts feel the Huawei moves could be a first step in comeback efforts by China's "national champion" to rival Apple. By contrast with the hit for Apple suppliers, Huawei's extended recent gains. Reuters GraphicsSCOPE OF CURBS UNCLEARIt was not immediately clear how wide China's iPhone curbs are, but one employee at an affected state-owned enterprise (SOEs) in the capital said they extended to visitors. However, Canalys analyst Nicole Peng said Huawei could present a greater threat to domestic peers, such as Honor, which had benefited from Huawei's woes. The U.S. Commerce Department is seeking more information on the "character and composition" of the new Huawei chip that may violate trade curbs, it said on Thursday.

Persons: Ann Wang, chipmaker TSMC, China's, Ivan Lam, Ming, Chi Kuo, Nicole Peng, TechInsights, Jeanny Kao, David Kirton, Jason Xue, Yelin Mo, Ellen Zhang, Sam Nussey, Miyoung Kim, Clarence Fernandez Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Rights, Huawei, Apple, Largan, Industry, Semiconductor Manufacturing International Corp, Reuters, Bank of America, TF International Securities, Street, Washington, U.S . Commerce Department, Shanghai Newsroom, Thomson Locations: Hsinchu, Taiwan, Rights SHANGHAI, TAIPEI, U.S, Beijing, Taipei, TW, iPhones, China, Shenzhen, Shanghai, Tokyo

Surveillance cameras are seen near an iPhone advertisement at an Apple store in Beijing, China September 7, 2023. One of the sources said they had not yet been given a deadline to cease their iPhone use. Apple and China's State Council Information Office, which handles media queries on behalf of the government, did not immediately respond to requests for comment. Bloomberg on Thursday reported that China planned to broaden the ban to state firms and agencies, citing sources. China has increasingly emphasized using locally made tech products, as technology has become a major national security issue for Beijing and Washington.

Persons: Florence Lo, China's, Tesla, Tim Cook, D.A, Davidson, Tom Forte, Yuvraj Malik, Jaspreet Singh, Brenda Goh, Alexander Smith, Shounak Organizations: Apple, REUTERS, U.S ., Staff, China's, Information Office, Huawei Technologies, Observer, Wall Street Journal, Bloomberg, Citi, Canalys, Government, HK, Huawei, Thomson Locations: Beijing, China, HONG KONG, BEIJING, Washington, U.S, Hong Kong, Shanghai, Bengaluru

☆ China's Huawei opens cloud data centre in Saudi Arabia in regional push
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

"The implementation of Huawei cloud is not just about us, but is a bridge that will bring other Chinese companies to Saudi Arabia," said Steven Yi, the company's regional president. The step would contribute to the development of the country's digital economy, he said, adding that Huawei opened its regional headquarters in the Saudi capital this year. Saudi Arabia has previously said it would not sign contracts with foreign companies that did not have regional headquarters in the kingdom after this year. Huawei ranked fifth in the global cloud services market in the first quarter, with a market share of 2.4%, although it was the second-largest vendor in mainland China, according to research consultancy Canalys. In February Huawei said it would invest $400 million in the Saudi Arabia cloud region over the next five years.

Persons: Eric Gaillard, Steven Yi, David Kirton, Mo Yelin, Clarence Fernandez Organizations: Huawei, Artificial Intelligence Cannes, REUTERS, Rights, Huawei Technologies, Thomson Locations: Cannes, France, Rights SHENZHEN, China, Saudi, Riyadh, East, North Africa, Huawei's, Saudi Arabia, Shenzhen, Mo, Beijing

☆ Has Huawei overcome U.S. sanctions by developing its own 5G chip?
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +4 min

A staff member introduces the new Huawei Mate 60 smartphone to customers at the Huawei flagship store in Shenzhen, Guangdong province, China August 30, 2023. The U.S. and some European countries have called Huawei a security risk, which the company denies. IS THE MATE PRO 60 A 5G PHONE? Huawei has kept mum, only saying that the smartphone is the "most powerful Mate model ever". Several Huawei staff said the phone's launch had taken them by surprise, with its official release initially scheduled for Sept. 12.

Persons: David Kirton, Dan Hutcheson, Hutcheson, Gina Raimondo, Nicole Peng, Mo Yelin, Max Cherney, Robert Birsel Organizations: Huawei, REUTERS, Rights, Huawei Technologies, U.S, Apple, Samsung, Reuters, China's Semiconductor Manufacturing International, HK, Global Times, . Commerce, ., Thomson Locations: Shenzhen, Guangdong province, China, Rights SHENZHEN, U.S, Kirin, SMIC, Weibo, Mo, Beijing, San Francisco

REUTERS/Aly Song/File Photo Acquire Licensing RightsSHENZHEN, China/SHANGHAI, Aug 30 (Reuters) - Chinese chip stocks rallied on Wednesday following Huawei Technologies' (HWT.UL) launch of its new Mate 60 Pro phone, as investors speculated it could be using a 5G capable chip which, if true, would mark a win for China's local semiconductor sector. On Tuesday, the company began selling its Mate 60 Pro around midday for 6,999 yuan ($960) in an unusually low-key fashion, having given no advance notice or conducted advertising. The specifications provided for the Mate 60 advertised its ability to make satellite calls, but provided no information on the power of the chipset inside. Huawei, whose woes with Washington have become a key flashpoint in U.S.-China relations, declined to comment on whether the phone was 5G capable but said in a statement the Mate 60 series was its most powerful Mate model ever. CHIP SHARES JUMPChina's semiconductor sector (.CSIH30184) jumped more than 2.5% on Wednesday, sending weekly gains to roughly 8%.

Persons: Aly, Lu Deyong, Lu, Nicole Peng, David Kirton, Jason Xue, Mo Yelin, Lincoln Organizations: Huawei, Artificial Intelligence, REUTERS, Rights, Huawei Technologies, Reuters, chipmaking, Semiconductor Manufacturing International, Pro, Staff, Washington, China's Semiconductor Manufacturing International Corp, Sai MicroElectronics Inc, Thomson Locations: Shanghai, China, Rights SHENZHEN, SHANGHAI, Washington, Beijing, Shenzhen, Kirin, Mo

☆ Xiaomi revenue drops but EV strategy ahead of schedule
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Sales dropped to 67.4 billion yuan ($9.2 billion) from 70.17 billion in the same quarter a year earlier, but beating analysts' estimates of 65.13 billion. Net income rose to 5.14 billion yuan over the period, an increase of 147% from 2.08 billion yuan a year earlier, also beating expectations. "Despite the macroeconomic headwinds in the global market we continue to expand our footprint," Xiaomi President Lu Weibing said on an earnings call. Lu said the company's plans to start mass production of EVs in the first half of 2024 remains unchanged. "Our current progress is ahead of expectations and of the original production schedule," he said.

Persons: Lu Weibing, Lu, Stringer, Canalys, David Kirton, Mo Yelin, Louise Heavens, David Holmes Organizations: Xiaomi Corp, HK, REUTERS, Reuters, Thomson Locations: SHENZHEN, China, Shenyang, Liaoning province, India, Shenzhen, Mo, Beijing

☆ HP dials back profit expectations on PC market slump, China weakness
▼ + stars: | 2023-08-29 | by ( Zaheer Kachwala | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 29 (Reuters) - HP Inc (HPQ.N) tempered expectations for annual profit on Tuesday, as it grapples with a more than a year-long slump in the personal computers segment and sluggish demand in key market China. Shares of the Palo Alto, California-based company fell 5.2% in after-market trading. HP now forecasts adjusted earnings per share to be in the range of $3.23 to $3.35 from earlier expectations of $3.30 to $3.50. However, a focus on controlling costs helped the PC maker report adjusted earnings per share of 86 cents, in line with analysts' estimates. The company remains on track to deliver 40% of its three-year cost savings target by the end of the fiscal year.

Persons: Brendan McDermid, Enrique Lores, Lores, Zaheer Kachwala, Krishna Chandra Organizations: Hewlett - Packard, New York Stock Exchange, REUTERS, HP Inc, Palo, HP, Thomson Locations: New York, U.S, China, Palo Alto , California, Bengaluru

☆ These 2 'secular' growth stocks are likely to keep rising despite rate hikes, fund managers say
▼ + stars: | 2023-08-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Shares of cybersecurity companies are likely to stay on their "secular" growth trajectory despite an increase in interest rates or a slowdown in global growth, according to several fund managers. In addition, Palo Alto Networks earlier this week reported stronger-than-expected quarterly earnings. CrowdStrike or Palo Alto Networks? Joe Terranova, senior managing director at Virtus Investment Partners, who currently owns CrowdStrike , Palo Alto and Fortinet , agreed. Terranova believes Palo Alto and CrowdStrike will be the "mainstays" in his portfolio and revealed that he recently added to both positions.

Persons: Stephen Weiss, Weiss, CNBC's, CrowdStrike, I'm, Joe Terranova, Cybersecurity, " Terranova, Terranova, Palo, Bryn Talkington, Talkington Organizations: Palo Alto, Short, Virtus Investment Partners, Capital Management, X Locations: Palo, Short Hills, Palo Alto's, billings, Palo Alto, Fortinet

☆ Lenovo Q1 revenue misses forecasts, hit by poor PC demand
▼ + stars: | 2023-08-17 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

The world's largest PC maker has now suffered four consecutive quarters of sales declines. Revenue in the April-June quarter fell to $12.9 billion, below a $13.84 billion average of seven analyst estimates compiled by Refinitiv. Lenovo shares in Hong Kong fell as much as 6% after the result but recouped some losses to trade down 2.9%, while the benchmark index (.HSI) gained 0.9%. However, revenue started contracting last year as demand began to fall, weighed down by rising interest rates and soaring inflation. "The group’s PC business is stabilizing and well-positioned for a year-on-year recovery in the later part of 2023," Lenovo said in a statement.

Persons: Thomas White, HSI, Yang Yuanqing, he's, Yang, Josh Ye, Miyoung Kim, Lincoln, Sonali Paul Organizations: Lenovo, REUTERS, HK, Revenue, Refinitiv, Global, Thomson Locations: HONG KONG, Hong Kong, China

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