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☆ Foxconn resumes iPhone assembly at Indian facility after weather disruptions
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: 1 min

Foxconn logo is seen in this illustration taken, May 2, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Dec 5 (Reuters) - Taiwan's Foxconn (2317.TW) resumed operations on Tuesday at its Indian facility that makes Apple (AAPL.O) iPhones following weather disruptions, two sources familiar with the matter said. Foxconn and Pegatron (4938.TW) had on Monday halted production of iPhones at their factories near Chennai because of heavy rain as a severe cyclone neared, Reuters had reported. Foxconn declined to a request for comment, while Apple did not respond. Reporting by Munsif Vengattil in Bengaluru; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Foxconn, Munsif, Kim Coghill Organizations: REUTERS, Rights, TW, Reuters, Apple, Thomson Locations: Chennai, Bengaluru

☆ New supplier and Wall Street numbers show why Apple stock is back near a record
▼ + stars: | 2023-12-05 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

New data from a major Apple supplier and Wall Street analysts pushed back against bearish calls around softening demand for the tech giant's devices and services. Bank of America analysts, meanwhile, said Tuesday that Apple's App Store revenue continued to increase last month. App Store sales in China rose 8% year-over-year in November, according to BofA, after experiencing 10% year-over-year growth in October. Overall, BofA said App Store revenue surged 11.3% year-over-year in Apple's fiscal 2024 first quarter to date, or about 61 days in. A man check his phone near an Apple logo outside its store in Shanghai, China September 13, 2023.

Persons: bearish, Foxconn, Apple's, Jim Cramer, Jim, That's, BofA, we've, Jim Cramer's, Aly Song Organizations: Wall Street, Apple . Bank of America, Apple, Wall, Bank of America, U.S, CNBC Locations: China, BofA, Beijing, Apple's, India, Shanghai

☆ Foxconn raises Q4 outlook on strong year-end holiday sales
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

The logo of Foxconn is seen outside the company's building in Taipei, Taiwan November 10, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Dec 5 (Reuters) - Taiwan's Foxconn (2317.TW), the world's largest contract electronics maker and a major Apple (AAPL.O) supplier, on Tuesday raised its outlook for the fourth quarter on strong year-end sales for the holiday peak season. The fourth quarter is traditionally the hot season for Taiwan's tech companies as they race to supply smartphones, tablets and other electronics to major vendors such as Apple for the year-end holiday period in Western markets. "Therefore, the outlook for the fourth quarter should be better than the original guidance for 'significant growth'", the company added, without elaborating. For components and other products, revenue in November showed strong year-on-year growth "due to increasing allocations in smart consumer electronics products and rising shipments in auto components", it added.

Persons: Ann Wang, Foxconn, Ben Blanchard, Sarah Wu, David Goodman Organizations: REUTERS, Rights, Apple, Hai Precision Industry Co, Revenue, Foxconn's, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, Zhengzhou, Foxconn's Taipei

☆ Five killed as southern India braces for Cyclone Michaung
▼ + stars: | 2023-12-05 | by ( Jatindra Dash | ) www.reuters.com time to read: +2 min

[1/3] People move in a boat past partially submerged vehicles in a residential area following heavy rains ahead of Cyclone Michaung in Chennai, India, December 4, 2023. REUTERS/Stringer/File photo Acquire Licensing RightsBHUBANESHWAR, India, Dec 5 (Reuters) - Heavy rains submerged roads and shut down a major airport in southern India on Tuesday, where at least five people, including a child, were killed in the flooding and the havoc hours before a severe cyclone was due to make landfall. The rains and winds also snapped power lines and uprooted trees, officials said. Taiwan's Foxconn (2317.TW) and Pegatron (4938.TW) halted Apple (AAPL.O) iPhone production at their facilities near Chennai due to heavy rains, sources familiar with the matter told Reuters on Monday. In December 2015, floods in Tamil Nadu killed at least 290 people and caused widespread damage.

Persons: Stringer, Michaung, Taiwan's Foxconn, Jatindra Dash, Shilpa Jamkhandikar, Miral Organizations: Cyclone, REUTERS, Apple, Reuters, Thomson Locations: Chennai, India, Andhra Pradesh, Tirupati district, Tamil Nadu, Tamil Nadu's

[1/2] Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. While all manufacturers including Samsung (005930.KS) have agreed to India's plan, Apple is pushing back. Apple, whose India lobbying efforts are being reported for the first time, and India's IT ministry, did not respond to Reuters requests for comment. Renowned Apple analyst Ming-Chi Kuo has estimated 12-14% of iPhone production in 2023 will be from India, with the number set to rise to as much as 25% next year. In terms of market share, Apple accounts for 6% of India's booming smartphone market, compared with just about 2% four years ago.

Persons: Francis Mascarenhas, Apple, Narendra Modi, Ming, Chi Kuo, Prabhu Ram, Aditya Kalra, Susan Fenton Organizations: Apple, REUTERS, DELHI, European Union, Samsung, India's, Reuters, IT, Research, Indian, Consumers, Industry Intelligence, CyberMedia, Thomson Locations: Mumbai, India, New Delhi, U.S, KS, EU, PLI, China

☆ Morning Bid: Small caps pick up baton, China rating hit
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +6 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. The likes of Microsoft (MSFT.O), Apple (AAPL.O), Nvidia (NVDA.O) and Amazon (AMZN.O) fell back over 1%, pressured by a modest bounceback in U.S. Treasury yields. China's blue-chip stocks slumped to their lowest since February 2019 amid fears of a possible cut to China's sovereign credit rating cut after Moody's outlook reduction. By Mike Dolan, Editing by Bernadette Baum; <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>Our Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Russell, that's, Moody's, Isabel Schnabel, Michael Gibson, Christine Laggard, Mongo, Zero Fox, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Reserve, Microsoft, Apple, Nvidia, Treasury, Reserve Bank of Australia, Central Bank, Reuters, ECB, Barclays, Qatar, P Global, Federal, Division, Supervision, Financial Innovation, Descartes Systems, Health, Powell Industries, Dave, Buster's Entertainment, Reuters Graphics, Thomson Locations: New York City, U.S, Global, York, Treasuries, Europe

☆ Foxconn halts iPhone production at India facility due to heavy rains - sources
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, Dec 4 (Reuters) - Taiwan's Foxconn (2317.TW) has halted production of Apple (AAPL.O) iPhones at its facility near the south Indian city of Chennai due to heavy rains, two sources familiar with the matter said on Monday. Foxconn is yet to decide whether to resume production on Tuesday, the sources said. Apple declined a Reuters request for comment, while Foxconn did not immediately respond. Reporting by Munsif Vengattil in Bengaluru and Praveen Paramasivam; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

Persons: Foxconn, Munsif, Toby Chopra Organizations: Apple, Thomson Locations: BENGALURU, Chennai, Bengaluru, Praveen

The New York Stock Exchange (NYSE) in New York City, U.S., February 24, 2022. Pressuring equities on Monday were higher U.S. Treasury yields, which made returns on stocks less attractive. However, some analysts have cautioned that markets have been too quick to price in lower interest rates. The S&P index recorded eight new 52-week highs and no new lows, while the Nasdaq recorded 46 new highs and 17 new lows. Reporting by Amruta Khandekar and Shristi Achar A; Editing by Anil D'Silva and Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Caitlin Ochs, Jerome Powell, It's, Sam Stovall, Stovall, Santa Claus, advancers, Amruta Khandekar, Anil D'Silva, Pooja Desai Organizations: New York Stock Exchange, REUTERS, Companies Alaska Air, Hawaiian Holdings, Dow, Nasdaq, Federal Reserve, Treasury, Nvidia, Apple, Traders, Research, Alaska Air Group, Dow Jones, Marathon, NYSE, Thomson Locations: New York City, U.S, New York, Santa, Israel, Red

☆ Piper Sandler champions Nvidia's opportunity beyond AI chips — underscoring our post-earnings analysis
▼ + stars: | 2023-12-04 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +4 min

Piper Sandler reiterated its buy-equivalent rating on Nvidia's stock and $620 per-share price target, which implies nearly 33% upside from its Friday close. After Nvidia's more-than-200% stock-price gain this year, investors are wondering what's "new" about Nvidia, Jim Cramer said Monday. The answer to that question is software, Jim said, which could eventually help offset the historically boom-and-bust nature of semiconductor sales. Over time, though, Piper Sandler believes software can become a "significant portion" of Nvidia's total revenue. Despite our alignment with Piper Sandler on Nvidia's long-term software opportunity, Jim on Monday cautioned that its stock could be due for a breather.

Persons: Piper Sandler, Nvidia's, Jim Cramer, Jim, Jim Cramer's Organizations: Nvidia, Devices, AMD, Software, Enterprise, Club, Apple, CNBC, Visitors, NVIDIA, Hangzhou Apsara, Getty, Nurphoto Locations: Hangzhou, Hangzhou Apsara Conference, Zhejiang province, China

☆ McDonald's raises China bet, bucking Western firms' derisking trend
▼ + stars: | 2023-12-04 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +4 min

[1/5] A woman sits on a swing attached to a giant sign of McDonald's, outside its themed exhibition in Beijing, China December 4, 2023. One advantage for McDonald’s: its majority partner in the China business, CITIC, provides top-level political cover, said Jason Yu, greater China managing director of market research firm Kantar Worldpanel. McDonald's China, Carlyle Group and CITIC declined to comment. Other consumer-facing U.S. firms, including Starbucks (SBUX.O), Apple (AAPL.O), Coach owner Tapestry (TPR.N) and sportswear giant Nike (NKE.N), have remained similarly dedicated to the China market. Although the McDonald's China menu would be familiar to U.S. consumers, there are nods to local tastes, including taro pie, rather than apple.

Persons: Tingshu Wang, McDonald's, Jason Yu, Kantar, Yu, Carlyle, Wallace, Greg, Euromonitor, Ben Cavender, Casey, Kane Wu, Deborah Sophia, Gerry Doyle Organizations: REUTERS, Rights, Group, Carlyle Group, Starbucks, Apple, Nike, Research, Investment, China Market Research, Casey Hall, Thomson Locations: Beijing, China, U.S, Hong Kong, Macau, Yum China, Russia, Shanghai, Bengaluru

☆ 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

☆ Wall Street underscores why we're in Apple and Microsoft for the long haul
▼ + stars: | 2023-12-04 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

A new batch of Wall Street commentary on Monday highlights exactly why we're bullish on mega cap tech stocks Apple (AAPL) and Microsoft (MSFT). AAPL YTD mountain Apple (AAPL) year-to-date performance New data from UBS indicated that Apple continues to grab market share in India. That's one of many reasons why the Club continues to reiterate an "own it, don't trade it" stance on Apple stock. Microsoft also confirmed that the company has had consistent access and rights to all of OpenAI's intellectual property and technology. Microsoft stock, up over 53% year-to-date, was trading 1.49% lower Monday, at $368.09.

Persons: OpenAI, Apple, Tim Cook, We're, –, Sam Altman, Altman, Piper Sandler, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Apple, Microsoft, UBS, Analysts, CNBC, Counterpoint Research, –, Huawei, U.S, Traders, New York Stock Exchange Locations: India, U.S, China, Europe, OpenAI, New York City

☆ How Cramer makes sense of the 'great bottom' of 2023
▼ + stars: | 2023-12-03 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

We've seen a stock rally that can't seem to quit. Probably when the supply of stock comes to market through IPOs and we get a weak bond auction that causes the bond market to hiccup. So now, you just got my best lesson about the great bottom of 2023. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. The New York Stock Exchange is seen during morning trading on December 01, 2023 in New York City.

Persons: It's, devolves, Jamie Dimon, Elon Musk, Josh Frost, –, we've, unawares, We've, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Federal, Fed, JPMorgan, Tesla, Club, Microsoft, Google, Apple, Labor Department, Jim Cramer's Charitable, CNBC, The New York Stock Exchange, Santiago, Getty Locations: IPOs, New York City

☆ Resurgent S&P 500 crests new 2023 closing high after roller-coaster year
▼ + stars: | 2023-12-01 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The benchmark index closed at 4,594.63, nearly 6 points above its previous closing high for 2023 set in late July. The S&P 500 is up over 19% year-to-date after posting its biggest monthly rise in over a year in November. The S&P 500 reached its previous 2023 closing high on July 31, also spurred in part by excitement over developments in artificial intelligence technology. The megacaps' outperformance has increased their combined weight to well over one-fourth of the entire S&P 500, meaning the stocks' moves have outsized influence on the benchmark index. The S&P 500 currently trades at roughly 19 times forward earnings estimates, compared to a historical average of 15.6 times.

Persons: Mike Segar, Jerome Powell, Stocks, Lewis Krauskopf, Noel Randewich, Saqib Iqbal Ahmed, Ira Iosebashvili, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Federal, Valley Bank, Citigroup, Microsoft, Nvidia, Thomson Locations: Lower Manhattan, New York, U.S

☆ Apple, Paramount discuss bundling their streaming services - WSJ
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

[1/2] Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsDec 1 (Reuters) - Apple (AAPL.O) and Paramount Global (PARA.O) have discussed bundling their streaming services at a discount, the Wall Street Journal reported on Friday. The companies have talked about offering a combined Paramount+ and Apple TV+ offering that would cost less than subscribing to both services separately, the report said, citing people familiar with the discussions. The talks are in their early stages, and it is unclear what shape the bundle could take, the report added. Apple and Paramount did not immediately respond to Reuters requests for comment.

Persons: Dado Ruvic, Chavi Mehta, Pooja Desai Organizations: REUTERS, Paramount Global, Wall Street, Paramount, Apple, Thomson Locations: Bengaluru

☆ Tech giants lead surge in global mega-caps as inflation eases
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Apple Inc's (AAPL.O) market value jumped 11.2% to $2.95 trillion over the past month, while Microsoft Corp (MSFT.O) saw a 12.1% increase in its market cap, reaching $2.8 trillion. Reuters Graphics Reuters GraphicsNvidia Corp's (NVDA.O) market cap soared 14.7% to $1.15 trillion, following its announcement of a 206% year-over-year revenue increase to $18.1 billion in the third quarter. JPMorgan Chase & Co (JPM.N) saw its market cap increase by 12.2% to $451 billion by the end of November. In other sectors, Tesla Inc's (TSLA.O) market value rose nearly 20% to $763.2 billion last month, following a price hike for its Model 3 and Y vehicles in China. Saudi Arabian Oil Co (2222.SE) and Exxon Mobil Corp (XOM.N) saw market caps fall by 0.3% and 2.9%, respectively.

Persons: Mike Segar, Tesla, Patturaja Murugaboopathy, Gaurav Dogra, Kim Coghill Organizations: Apple Inc, Apple, REUTERS, Microsoft Corp, Reuters Graphics Reuters, Nvidia, JPMorgan Chase &, Rho, Saudi Arabian Oil Co, Exxon Mobil Corp, Thomson Locations: Manhattan , New York, U.S, China, Saudi, Bengaluru

REUTERS/Siddharth Cavale/File Photo Acquire Licensing RightsDec 1 (Reuters) - Walmart (WMT.N) said on Friday it is not advertising on social media platform X, one of the latest brands to say it has dropped the Elon Musk-owned site. "We aren't advertising on X as we've found other platforms to better reach our customers," a Walmart spokesperson said. X, formerly known as Twitter, did not immediately respond to a request for comment. Earlier this month, Musk agreed with an X user who falsely claimed members of the Jewish community were stoking hatred against white people, saying the user was speaking "the actual truth." Reporting by Siddharth Cavale in New York and Sheila Dang in Dallas; Editing by Chizu Nomiyama and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Siddharth Cavale, Musk, Walt Disney, Sheila Dang, Chizu Nomiyama, Bill Berkrot Organizations: REUTERS, Walmart, Elon Musk, Twitter, New York Times, Apple, Warner Bros Discovery, Media, Thomson Locations: Teterboro , New Jersey, U.S, New York, Dallas

EU flag and TikTok logo are seen in this illustration taken, June 2, 2023. REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsBRUSSELS, Dec 1 (Reuters) - Chinese conglomerate ByteDance's TikTok has asked Europe's second highest court to suspend its designation as a gatekeeper under onerous new EU tech rules until judges rule on its challenge against the label. TikTok last month challenged the EU decision at the Luxembourg-based General Court, saying its designation risks undermining the DMA goal of protecting gatekeepers from newer competitors like itself. "We have applied for interim measures," a spokesperson said. The bar for the court to approve interim measures is very high.

Persons: Dado Ruvic, TikTok, Europe's, Foo Yun Chee, Barbara Lewis Organizations: REUTERS, Rights, Markets, Google, Apple, Microsoft, EU, Companies, Commission, Thomson Locations: Luxembourg

As tech heavyweights such as Apple (AAPL.O) and Amazon (AMZN.O) spend heavily on custom cutting-edge chips, companies using legacy chips are also looking to introduce custom silicon. Inverters adjust the speed of an air conditioner's motor to save energy. The custom chips, to be made by Taiwan's TSMC (2330.TW), cost more than off-the-shelf alternatives but offer better energy efficiency and allow a reduction in the use of other components, according to a Daikin executive. The company, which developed Japan's first packaged air conditioner in 1951, is also working on customised power modules, which help manage the air conditioner's electricity supply. The number of air conditioners globally is expected to more than triple to 5.6 billion units by 2050, according to the International Energy Agency.

Persons: Sam Nussey, Taiwan's TSMC, Yuji Yoneda, Daikin, Jamie Freed Organizations: Daikin, REUTERS, Rights, Daikin Industries, Apple, European Union, International Energy Agency, Thomson Locations: Tokyo, Japan, Osaka, United States

☆ UK antitrust regulator wins appeal over Apple probe
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar Acquire Licensing RightsLONDON, Nov 30 (Reuters) - Britain's antitrust regulator can investigate Apple's (AAPL.O) mobile browser and cloud gaming services, London's Court of Appeal ruled on Thursday, overturning a lower court decision the watchdog said could undermine its power to launch probes. The Competition and Markets Authority (CMA) opened a full investigation last year into the dominance of Apple and Alphabet Inc's Google (GOOGL.O) in mobile browsers. The Competition Appeal Tribunal (CAT) ruled in Apple's favour in March, but the Court of Appeal upheld the CMA's appeal on Thursday. The CMA said its investigation is on hold pending any application for permission to appeal to the Supreme Court.

Persons: Mike Segar, Judge Nicholas Green, Green, Sarah Cardell, Sam Tobin, Michael Holden, Jane Merriman Organizations: Apple Inc, Apple, REUTERS, London's, Markets Authority, CMA, Google, CAT, Supreme, Thomson Locations: Manhattan , New York, U.S, Apple's

☆ ChatGPT one year on: From viral AI bot to OpenAI's boardroom battle
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 30 (Reuters) - We asked ChatGPT, OpenAI's viral chatbot, how it felt on its first birthday. The generative AI craze has disrupted several industries from cloud computing and customer service to movie editing and screenplay writing. Reuters GraphicsCHATGPT APP DOWNLOADSSix months after ChatGPT's website launch, OpenAI introduced the chatbot application to Apple's (AAPL.O) iOS in May and later on Android in July. With these applications running mostly on the cloud, vendors of cloud computing services, including Microsoft, Amazon and Alphabet, have also seen their shares surge. Microsoft (MSFT.O) and Alphabet (GOOGL.O) have invested billions to improve their cloud computing capabilities and take on more AI workloads as businesses embrace such tools.

Persons: Dado Ruvic, ChatGPT, Sam Altman, chatbots, Bard, Anthropic's Claude, Character.AI, Microsoft's, OpenAI, John Grisham, George R.R, Martin, Jonathan Franzen, Akash Sriram, Harshita Mary Varghese, Zaheer Kachwala, Jaspreet Singh, Sweta Singh, Saumyadeb Organizations: REUTERS, Microsoft, Reuters, Android, Nvidia, Nasdaq, TECH, Thomson Locations: Bengaluru

☆ US and India’s strengthening bond is weak on trust
▼ + stars: | 2023-11-30 | by ( Una Galani | ) www.reuters.com time to read: +4 min

REUTERS/Kevin Lamarque Acquire Licensing RightsMUMBAI, Nov 30 (Reuters Breakingviews) - Trust between the United States and India is eroding. It says it will investigate security concerns aired by the United States. Trying that on the United States would be more consequential: Apple (AAPL.O) and Tesla (TSLA.O) are looking to build supply chains in the country, and the U.S. is the largest market for India’s people-heavy IT services companies. The United States and India may draw a quick line under the murder-for-hire episode, but it will sow a lasting seed of doubt in the relationship. Prosecutors did not name the Indian official.

Persons: Kevin Lamarque, soberly, ”, Justin Trudeau, Joe Biden, Narendra Modi, Saudi Arabia’s Crown Prince Mohammed bin Salman, Jamal Khashoggi, Nikhil Gupta, “, Arindam Bagchi, Neil Unmack, Oliver Taslic Organizations: White, REUTERS, Rights, Reuters, U.S . Department of Justice, U.S, Companies, Micron, General Electric Aerospace, Ottawa, Global, Saudi Arabia’s Crown, Indian, U.S . Justice, New, New York City, Prosecutors, “ Security Management, Thomson Locations: India, Washington , U.S, Rights MUMBAI, United States, Delhi, American, China, Asia, Canada, U.S, Vietnam, Saudi, Istanbul, Manhattan, New York

☆ Amkor to build $2 billion Arizona semiconductor packaging plant
▼ + stars: | 2023-11-30 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Nov 30 (Reuters) - Amkor Technology (AMKR.O) said Thursday it will spend $2 billion to build a new advanced semiconductor packaging and test facility in Arizona that will package and test chips for Apple (AAPL.O) produced at a nearby Taiwanese chipmaker TSMC (2330.TW) facility. Amkor said the facility will be the largest U.S. outsourced advanced packaging facility. Earlier this month, the Commerce Department disclosed details of its plans to spend $3 billion for advanced packaging. Advanced packaging is a high-tech method of placing multiple chips with a variety of functions in a densely interconnected “package." Commerce Secretary Gina Raimondo has made advanced packaging a priority and said earlier this year "the U.S. will develop multiple high-volume advanced packaging facilities, and become a global leader in packaging technologies."

Persons: TSMC, Amkor, Apple, Gina Raimondo, Mark Kelly, David Shepardson Organizations: Amkor, Apple, U.S, Commerce Department, Commerce, Thomson Locations: Arizona, U.S

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Eli Lilly, Salesforce, Snowflake, Snap, Pinterest and more
▼ + stars: | 2023-11-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Jefferies upgrades Pinterest and Snap to buy from hold Jefferies sees growth upside in 2024 for both stocks. " Wolfe upgrades Ally Financial to outperform from peer perform Wolfe said in its upgrade of the financial company that it's well-positioned. "In an environment where the probability of a mild recession or soft landing both appear plausible, we believe ALLY is well positioned to outperform in either scenario and upgrade shares to Outperform." "We continue to believe that Salesforce is on track to become the next quality [growth at a reasonable price] stock." Goldman Sachs reiterates Snowflake as buy Goldman Sachs stood by its buy rating on Snowflake after earnings on Wednesday.

Persons: Berenberg, Eli Lilly, Lilly, Wells, BTIG, Jefferies, Bernstein, Burger, Wolfe, TD Cowen downgrades Okta, Cowen, Stifel, Raymond James, Morgan Stanley, Bilibili, BILI, Baird, Pat Shanahan, Wells Fargo, Salesforce, Goldman Sachs, Snowflake, DUK Organizations: pharma, Nvidia, NVIDIA, Jefferies, SNAP, BK, UBS, Service Corporation, Deutsche Bank, Lattice Semiconductor, Apple, JPMorgan, Nokia, Infineon, Watch, Hewlett Packard Enterprise, Barclays, GE Healthcare, Airbus, Bank of America, Duke Energy, HSBC, Molson Coors Locations: FTCH, North America, China

As technology titans jockey to back hot new startups, they are extracting explicit or implicit promises of revenue in return. loadingMicrosoft’s injection of $10 billion into OpenAI in January helped kick off the craze. As part of their deal, the ChatGPT operator agreed to exclusively use its new investor’s cloud computing services. Much of the invested capital should be returned relatively quickly as AI firms buy back-end services. Nvidia (NVDA.O) has at least 80% and as much as 95% of the AI market, according to estimates by analysts.

Persons: Sam Altman, Satya Nadella, OpenAI, Optimists, cynics, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav, Streisand Neto Organizations: Reuters, Microsoft, Financial Times, Apple, Nasdaq, Big Tech, OpenAI, Wall Street, Google, Reuters Graphics Reuters, Cisco Systems, Lucent Technologies, Nortel Technologies, Company, Global, Telecom, Nortel, Network, Nvidia, Thomson Locations: OpenAI, Silicon Valley

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