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☆ Critical chip firm ASML posts profit beat but sales miss expectations with 22% drop
▼ + stars: | 2024-04-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Net sales fell 21.6% year-on-year while net income dropped 37.4%. ASML's net sales fell in the middle point of the company's guidance. ASML on Monday said first-quarter profit beat expectations while sales missed forecasts, with the company sticking to its full-year outlook. ASML has previously said it expects net sales for 2024 to be similar to 2023 and reiterated this projection on Monday. ASML previously said that export restrictions would impact 10% to 15% of China sales this year.

Persons: Joe Biden's, ASML, Peter Wennink, ASML's bullishness, Roger Dassen Organizations: Samsung, Taiwan Semiconductor Manufacturing Co, Intel Locations: Netherlands, China, U.S, America

☆ These stocks could rally in 'second phase' of bull market, Morgan Stanley Investment Management says
▼ + stars: | 2024-03-30 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

There's a rotation happening in the market that investors can take advantage of by investing in cyclical stocks, according to Morgan Stanley Investment Management's Andrew Slimmon. He recommended investors to have a more cyclical bias to their portfolio, pointing out that the best-performing sectors in the last month are energy, materials and industrials. He also thinks there's still room to run in semiconductor stocks — even if the overbought group sees a near-term pullback. " Slimmon named Applied Materials , Ameriprise Financial and Valero Energy as some of the stocks he likes right now. Regarding energy, Slimmon said the space could continue to show strength if the economy begins to weaken.

Persons: Morgan Stanley, Andrew Slimmon, Stocks, Slimmon, there's, Slimmon's, that's Organizations: Morgan, Morgan Stanley Investment, Dow Jones Industrial, Nasdaq, Ameriprise Financial, Valero Energy, Infrastructure Investment, Jobs, United Rentals, Applied Materials, Ameriprise, U.S Locations: U.S, financials, That's

☆ These 5 stock investments are set to outperform now that recession mongers have been proven wrong, according to a senior portfolio manager at Morgan Stanley
▼ + stars: | 2024-03-29 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Andrew Slimmon, a senior portfolio manager at Morgan Stanley Investment Management, says we're still in the early stages of an economic recovery from 2022's earnings recession and the bear market that followed. Slimmon oversees the US and global long-equity strategies, portfolios that aren't biased toward any one area such as growth or value stocks. And in this environment, value stocks are expected to outperform dramatically, he said. Below is a Morgan Stanley equities chart demonstrating where value stocks trade relative to their fair value. They haven't fully sold off and remain expensive relative to the market, he noted.

Persons: Andrew Slimmon, we're, Slimmon, Morgan, it's Organizations: Morgan Stanley Investment Management, Business, US, Morgan Stanley, Morgan Stanley Investment

☆ ‘No force’ can stop China’s tech progress, Xi Jinping tells Dutch PM
▼ + stars: | 2024-03-28 | by ( Laura He | ) edition.cnn.com time to read: +3 min

There was a surge in sales of ASML’s advanced chipmaking tools to China last year — ahead of the Dutch ban. In the fourth quarter of 2023, China accounted for 39% of ASML’s total revenue, according to the company. For 2023 as a whole, China’s share of ASML’s revenue was 29%, doubling from 14% in 2022. “China’s access to [these high-end chipmaking] machines is key to its commercialization of 7-nanometer logic chips,” they added. “China has been aggressively buying semiconductor equipment to build out production lines in both advanced and mature nodes,” according to Jefferies.

Persons: Xi Jinping, Mark Rutte, ASML, ” Xi, Rutte, Wang Wentao, Geoffrey van Leeuwen, ” Wang, “, ” Jefferies, Jefferies Organizations: Hong Kong CNN, Dutch, United, ”, Dutch Trade, Huawei, China’s Semiconductor Manufacturing International Corporation Locations: Hong Kong, China, Netherlands, Beijing, United States, Europe

☆ Morgan Stanley just named its 3 favorite chip stocks after hosting a big tech conference
▼ + stars: | 2024-03-11 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Moore named Nvidia , Western Digital and Microchip Technology as the investment bank's favorite names coming out of the conference. Computer drive maker Western Digital is the firm's top pick. Western Digital announced in late October that it will split its hard disk drive and NAND memory businesses into two separate public companies. "Every semiconductor equipment company that we talked to highlighted that NAND spending will remain at minimal levels through CY24, even as DRAM spending and cutting edge fab spending hit new highs," he said. Western Digital shares are up 17.9% so far this year.

Persons: Morgan, Joseph Moore, Moore, Morgan Stanley's Organizations: Media, Telecom, Nvidia, Western Digital, Technology, Computer, Western, Digital Locations: CY25

☆ This under-the-radar chip stock is in Nvidia's supply chain and profiting from AI boom, fund manager says
▼ + stars: | 2024-03-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

KLA Corp could be a lesser-known semiconductor equipment company to profit from the AI boom, according to fund manager Stephanie Niven. KLA is known for making semiconductor manufacturing equipment used in a process known as "yield management." KLAC 1Y line While not a headline AI stock itself, Niven, global sustainable equity portfolio manager at Ninety One, said KLA plays a critical supporting role in enabling AI capabilities. "[KLA] is a semiconductor equipment maker, and it leans into the supply chain of AI," Niven told CNBC's "Squawk Box Europe" Friday. KLA has generated impressive returns amid the AI semiconductor upswing.

Persons: Stephanie Niven, Niven, CNBC's, Brian Chin, FactSet Organizations: Corp, Nvidia, Ninety, KLA Corp, Sustainable Equity, KLA, Wall, Analysts, Intel, Samsung Locations: California

☆ It's not just Nvidia: The AI boom could create semiconductor jobs across the US and reduce reliance on risky Taiwan
▼ + stars: | 2024-02-29 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

The demand for Nvidia's AI chips could bolster job growth across the semiconductor industry. It could also help bring more semiconductor chip manufacturing stateside and reduce the US's reliance on Taiwan — which remains vulnerable to Chinese invasion that would wreak havoc on the global economy. AdvertisementEven without the AI boom, the semiconductor industry was already poised for big job gains in the near future. Of the 115,000 US new semiconductor jobs the Semiconductor Industry Association is projecting by 2030, it said roughly 67,000 of these positions risk going unfilled given current college degree completion rates. In an effort to prevent a worker shortage, community colleges and universities across the country have partnered with semiconductor companies.

Persons: —, Pat Gelsinger, It's, who've, TSMC, Syed Alam, Ed Kaste, GlobalFoundries, Mark Muro, Muro, Jensen Huang, hasn't, Dylan Patel, SemiAnalysis, Patel, Accenture's Alam, Alam Organizations: Nvidia, TSMC, Service, Deloitte, Semiconductor Industry Association, Accenture, Meta, Intel, AMD, Brookings Institution, Samsung, Google, IBM, Lam Research, Materials, KLA Corporation Locations: Taiwan, Arizona

Berenberg increased its price target on Eli Lilly on the back of expected strong sales of its weight loss drug, Zepbound. The firm kept its $21 price target, saying shares are "ready to inflect" with hardware cost deflation and investment tax credit boosting growth. Danely's $820 price target on the buy-rated blockbuster chipmaker suggests 3.6% potential upside for shares since Monday's close. — Pia Singh 5:38 a.m.: Berenberg hikes Eli Lilly price target Eli Lilly has been on a tear this year, and Berenberg expects even more gains from here. Analyst Kerry Holford reiterated his buy rating on the stock and raised his price target to $850 from $680.

Persons: Berenberg, Eli Lilly, John Hodulik, Hodulik, — Pia Singh, Wells, Steven Cahall, Cahall, ROKU, Fred Imbert, BofA Evercore, James West, Christopher Danely, Danely, Goldman Sachs, Edward Jones, James Shanahan, Goldman, Marcus, Apiro Dounls, Sunoco, Kerry Holford, Holford, Zepbound Organizations: CNBC, pharma, Nvidia, Citi, Sunoco, NuStar Energy, Netflix, UBS, Vizio, CTV, ISI, BofA, BofA Evercore ISI, Bank of America, Micron Technology, NuStar, SUN Locations: Wells, Sunrun, Monday's

☆ Want a Nvidia alternative? These 6 chip suppliers look set to gain big from the AI boom
▼ + stars: | 2024-02-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

A number of stocks that supply Nvidia look set to gain from the AI boom, as the U.S. chip giant published another bumper quarter of earnings. Nvidia, which makes chips that are used to train artificial intelligence models, said sales had risen 265% year-on-year to more than $22 billion in its latest quarter . TSMC also makes chips for companies such as Apple and AMD . Samsung Electronics and SK Hynix make "high bandwidth memory" chips used in the latest AI chips. Japanese firm Advantest makes equipment and materials used to test AI chips during manufacturing.

Persons: TSMC, Morgan Stanley, CNBC's Michael Bloom Organizations: Nvidia, CNBC, Samsung Electronics, Micron Technology, Taiwan Semiconductor Manufacturing Company, Apple, AMD, SK Hynix, GPU, Street, BESI, BE Semiconductor Industries, TSMC, Intel, Samsung Locations: U.S, NVDA, Dutch

☆ Shares of supplier TSMC, chip equipment maker ASML fall ahead of Nvidia's earnings report
▼ + stars: | 2024-02-21 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Shares of two critical chip firms TSMC and ASML fell ahead of U.S.-based artificial intelligence chip designer Nvidia's earnings report. Shares of Taiwan Semiconductor Manufacturing Company dropped more than 1% on Wednesday morning. Nasdaq-listed shares of Dutch semiconductor equipment maker ASML closed 2.09% lower on Tuesday. ASML supplies the likes of TSMC with machines that are critical to manufacturing chips. Other Taiwanese semiconductor companies United Microelectronics Corp .

Persons: ASML, Jensen Huang, MediaTek Organizations: Nvidia, Taiwan Semiconductor Manufacturing Company, Apple, Nasdaq, United Microelectronics Corp Locations: Krakow, Poland, U.S

☆ Stocks making the biggest moves midday: Coinbase, Roku, Nike, Super Micro Computer and more
▼ + stars: | 2024-02-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Coinbase Global — Shares surged nearly 16% after the cryptocurrency exchange reported its first profit in two years. Roku — The streaming service provider slid 24% after posting a larger-than-expected loss for the fourth quarter. Dropbox — Shares shed 20% after the cloud storage company issued lower-than-expected first-quarter revenue guidance. Dropbox now forecasts revenue in the range of $627 million to $630 million, versus the $632.5 million expected from analysts polled by FactSet. Super Micro Computer — The information technology company shed 11.6% after Wells Fargo initiated coverage of the stock with an equal weight rating.

Persons: Coinbase's, Yelp, FactSet, Toast, DoorDash, Wells, Carvana, Raymond James, —, Samantha Subin, Sarah Min, Alex Harring, Pia Singh Organizations: LSEG, Revenue, Nike —, Oppenheimer, FactSet, Bloom Energy, Nvidia —, Loop Locations: Carvana's

☆ Stocks making the biggest moves after hours: DoorDash, Roku, Applied Materials and more
▼ + stars: | 2024-02-15 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Although revenue rose 27% to $2.3 billion, outpacing LSEG estimates, the loss of 39 cents per share was wider than expected. First-quarter earnings per share of $2.13, excluding items, bested estimates of $1.90 per share, from LSEG. Revenue came in slightly below analysts' estimates at $1.23 billion, versus $1.24 billion expected. Yelp — Shares dropped about10% after the website's first-quarter guidance for both adjusted EBITDA and revenue missed analysts' estimates. Bio Rad Laboratories — The life science equipment company's fourth-quarter earnings per share exceeded analysts' consensus estimates, FactSet said.

Persons: –, Yelp, FactSet, Macheel, Scott Schnipper Organizations: Revenue, Texas, Rad Locations: LSEG, FactSet . Texas

☆ Stock futures are little changed as investors digest more earnings news: Live updates
▼ + stars: | 2024-02-15 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading on February 14, 2024 in New York City. Stock futures are were little changed on Thursday night as investors attempt to carry forward the broader market's strong momentum. Futures tied to the Dow Jones Industrial Average slipped 27 points, or 0.07%. S&P futures inched up 0.03%, while Nasdaq 100 futures added 37 points, or 0.2%. "Market expectations and Federal Reserve (Fed) monetary policy projections have become closer aligned, alleviating a source of market volatility.

Persons: Dow, Adam Turnquist Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Materials, LPL, Federal Reserve Locations: New York City, U.S

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

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

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

☆ China may be making more advanced chips despite U.S. sanctions — but it still faces big problems
▼ + stars: | 2024-02-12 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

In this article 981-HK Follow your favorite stocks CREATE FREE ACCOUNTA Chinese flag next to a printed circuit board with semiconductor chips. Florence Lo | ReutersChina's biggest chipmaker SMIC seems to have been manufacturing advanced chips in the last few months — defying U.S. sanctions designed to slow down Beijing's progress. But last week, the Financial Times reported that SMIC is setting up new production lines to make 5 nanometer chips for Huawei. So when the Huawei Mate 60 came out last year with a 7 nanometer chip, that raised a lot of eyebrows. One expert told CNBC at the time that SMIC is likely using older chipmaking tools to make more advanced chips.

Persons: Lo, SMIC, Paul Triolo, Albright Stonebridge Organizations: HK, Reuters China's, Huawei, Semiconductor Manufacturing, Co, Financial Times, China's, CNBC Locations: U.S

☆ Chinese stocks are trying to rebound. This is the trade to watch to know if the turnaround is for real
▼ + stars: | 2024-02-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mainland Chinese stocks are trying to rebound from five-year lows and it's starting to look like Beijing is willing to take some action. "My question is, would a recovery in [the] Chinese economy and the stock market be the end to that multi-year rally in Chinese bonds?" If Chinese bond yields started to climb, that would likely indicate investors were rotating out, Papic pointed out. Mainland Chinese stock markets are closed and don't re-open until Monday, Feb. 19. They expect if sentiment remains weak, foreign capital still has scope to sell out of mainland Chinese and Hong Kong stocks.

Persons: Clocktower, Marko Papic, Xi Jinping, Papic, Nomura, Yi Huiman, Wu Qing, — CNBC's Michael Bloom Organizations: Bloomberg, U.S ., Shanghai Stock Exchange, Eurasia Group, Hong, UBS, Naura Technology Locations: Beijing, Shanghai, China, U.S, Hong Kong, Eurasia, Shenzhen, Sungrow

Analysts are boosting earnings estimates on a collection of stocks set to report quarterly results next week, which could signal strong momentum ahead. Fourth-quarter earnings have so far been better-than-expected, with technology stocks including Meta Platforms and Amazon outperforming analyst estimates and helping lift the S & P 500 to a new all-time highs. Still, some companies set to report quarterly results next week are also seeing analysts increase their profit forecasts, adding potential momentum to those companies' stock performance. EPS estimates have increased by about 4% on average over the same time period. Akamai stock hit a new 52-week high on Thursday.

Persons: Raymond James, Srini, Piper Sandler, Akamai, James Fish Organizations: Meta, Amazon, CNBC, Applied, Akamai Technologies, Howmet Aerospace, New, Consolidated Edison Locations: New York

☆ Alibaba, ASML and more: Jefferies reveals its 'highest-conviction' stocks to buy — and one has 118% upside
▼ + stars: | 2024-02-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Investment bank Jefferies has revealed its top stock picks that are exposed to major themes like innovation, new products, and emerging markets. The investment bank forecasts Prudential shares will rise 118% to 18,000 British pence over the next 12 months. The investment bank expects Hong Kong-listed shares of Alibaba to rise to 128 Hong Kong dollars ($17), which implies an 84% upside potential. The investment bank expects shares to rise 57% over the next 12 months. The investment bank believes ASML's current valuation of 33 times forward earnings is too low since it forecasts 49% earnings growth over the next two years.

Persons: Jefferies, Prudential Jefferies, Prudential's, Anil Wadhwani, Eddie Wu, Wu, Alibaba's, Joe Dickerson, Dickerson, — CNBC's Michael Bloom Organizations: Prudential, Jefferies, Hong, U.S, HSBC Jefferies, HSBC, ASML Semiconductor, DexCom Locations: U.K, Asia, China, India, Africa, Hong Kong, Alibaba

☆ Stocks making the biggest moves midday: Intel, Visa, Spirit Airlines and more
▼ + stars: | 2024-01-26 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

On Thursday, Capital One posted fourth-quarter revenue of $9.51 billion, while analysts polled by LSEG called for $9.46 billion. Booz Allen Hamilton — Shares soared 12% after the company reported an earnings and revenue beat for its fiscal third quarter, per FactSet. Booz Allen Hamilton also raised its full-year earnings and revenue guidance, and raised its quarterly dividend by 8.5%. Colgate-Palmolive — The consumer products company rose more than 2% after posting an earnings and revenue beat in the fourth quarter. Visa — The stock slipped nearly 2% even though Visa beat estimates on the top and bottom lines in the fiscal first quarter.

Persons: LSEG, Booz Allen Hamilton, Horacio Rozanksi, Coinbase, Oppenheimer, CNBC's Lisa Kailai Han, Pia Singh, Samantha Subin, Michelle Fox, Tanaya Macheel Organizations: Capital, Spirit Airlines, JetBlue, Booz, Colgate, Palmolive, LSEG, Intel, KLA Corporation, Visa, Western Digital

☆ Stocks making the biggest moves premarket: Intel, T-Mobile, American Express and more
▼ + stars: | 2024-01-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The company now expects revenue in the range of $12.2 billion to $13.2 billion, while analysts polled by LSEG forecast $14.16 billion. American Express — Shares added 3% after the company issued full-year guidance that topped expectations, although its fourth-quarter results were weaker than expected. American Express is anticipating full-year earnings between $12.65 to $13.15 per share, versus the StreetAccount consensus estimate of $12.38 per share. T-Mobile — The telecommunications company declined 2% after posting mixed fourth-quarter results. T-Mobile posted $20.48 billion in revenue, ahead of a $19.67 billion forecast.

Persons: Levi Strauss –, Coinbase, Oppenheimer, Macheel, Brian Evans, Sarah Min, Michelle Fox, Jesse Pound Organizations: Intel, LSEG, American, Mobile, FactSet, Western Digital, KLA Corporation, Wall, Deutsche Bank, Colgate, Palmolive, Capital, Federal Deposit Insurance Corporation

☆ Critical chip firm ASML posts 30% surge in full-year revenue but signals slowdown in 2024
▼ + stars: | 2024-01-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Here's how ASML did versus LSEG consensus estimates:Net sales: 7.2 billion euros ($7.82 billion) versus 6.9 billion euros expected7.2 billion euros ($7.82 billion) versus 6.9 billion euros expected Net profit: 2.05 billion euros versus 1.86 billion euros expectedASML had previously said that it expects fourth-quarter net sales between 6.7 billion euros and 7.1 billion euros with a gross margin between 50% and 51%. Net sales for the fourth quarter rose 12.5% year-on-year, while the company reported a gross margin of 51.4% in the fourth quarter. ASML said it expects first-quarter net sales of between 5.0 billion euros and 5.5 billion euros. "We maintain our conservative view for the total year and expect 2024 revenue to be similar to 2023. ASML reported 27.6 billion euros in revenue for 2023, higher than the 21.2 billion euros of the year before.

Persons: ASML, Peter Wennink Locations: U.S

☆ Stocks making the biggest moves midday: Netflix, ASML, AT&T, Advanced Micro Devices and more
▼ + stars: | 2024-01-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Netflix – The streaming stock popped nearly 13% after topping fourth-quarter revenue estimates and posting strong subscriber growth. Revenue topped expectations and AT & T added more subscribers than anticipated, but the company forecasted lower-than-expected adjusted earnings for 2024. The company guided for fourth-quarter revenue of $2.90 billion, under the $3 billion expected by analysts surveyed by FactSet. Abbott posted adjusted earnings that came in line with the consensus estimate of analysts polled by FactSet at $1.19 per share. The firm also told investors to anticipate full-year adjusted earnings between $4.50 and $4.70 per share, a range that includes the $4.63 per share analyst forecast.

Persons: ASML, DuPont preannounced, DuPont, Kimberly, Clark, Clark's, LSEG, Abbott, CNBC's Michelle Fox, Hakyung Kim, Lisa Kailal Han, Alex Harring, Tanaya Macheel, Jesse Pound Organizations: Netflix, StreetAccount, New Street Research, AMD, Spotify, Texas, SAP, DuPont de Nemours, DuPont, FactSet, Elevance Health, Abbott Laboratories, Wall Street Locations: Europe

☆ These stocks that are reporting earnings next week have momentum going for them
▼ + stars: | 2024-01-18 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

A host of companies reporting quarterly results next week have momentum on their side after Wall Street analysts boosted their earnings estimates on them over the past three months. The fourth-quarter earnings season is expected to show tech stocks as the standout segment of the benchmark S & P 500. Still, some stocks that are set to report earnings next week have seen analysts bump up their profit forecasts. INTC YTD mountain Intel stock has ticked down about 6% from the start of the year. Analysts surveyed by FactSet now estimate the company will notch an adjusted earnings per share of $7.07 in its most recent quarter.

Persons: FactSet, it's Organizations: Wall Street, CNBC, Intel, Nvidia, AMD . Semiconductor, Lam Research, VanEck Semiconductor, Xcel Energy Locations: Horton

☆ China could face more chip restrictions in 2024, analysts say
▼ + stars: | 2024-01-18 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

China could face more semiconductor export curbs from the likes of the U.S. and the Netherlands to contain the Asian powerhouse's chip tech, analysts told CNBC. Earlier this year, the Netherlands blocked Dutch semiconductor equipment maker ASML from exporting some of its deep ultraviolet lithography systems to China. It came after the U.S. tightened export controls on advanced semiconductors and chipmaking tools to China in October last year, building on previous rules. "I wouldn't be surprised if there's more [U.S. restrictions] coming just because we're still in the middle of this tit-for-tat. Beijing slammed the Dutch government's move, urging the Netherlands to "uphold an objective and fair position and market principles."

Persons: we're, Dan Hutcheson Organizations: CNBC, U.S, China's Ministry of Commerce Locations: China, Netherlands, Beijing, U.S, TechInsights

☆ 2023's AI boom was about 'obvious' plays — here's how to invest in the next leg, according to Citi
▼ + stars: | 2024-01-18 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Here are four areas that are "clear beneficiaries from the coming integration of AI into everyday business and personal lives," according to Citi. AI infrastructure Key suppliers along the global semiconductor value chain are set to be big beneficiaries in 2024, Citi said. That will include chipmakers, semiconductor equipment and data centers. The continuing manufacturing and e-commerce boom will lead to the need for more automation and robotics, according to Citi. Cybersecurity Citi warned of a sinister side to the proliferation of AI: hackers using AI chatbots to write the code to carry out cyberattacks.

Persons: Kristen, there's, Cybersecurity Organizations: Nvidia, Citi, Citi Global Wealth, Semiconductor, FDA, Citi Research, Robotics, Cybersecurity Citi Locations: Singapore

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