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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. S&P 500 and Nasdaq 100 futures both inched down 0.1%. The Nasdaq Composite led the three indexes with a gain of 1.1%, while the S&P 500 and Dow added about 0.7% and 0.3%, respectively. It was the second positive session for the S&P 500 and Nasdaq, and the third for the Dow. The Wall Street Journal reported Sunday that there was a consensus within the Fed to not hike rates this month.
Persons: Brendan McDermid, Wall, Dow, Tesla, bullish Morgan Stanley, CNBC's David Faber, Pete Biebel, Benjamin F, Edwards Organizations: New York Stock Exchange, REUTERS, Dow Jones Industrial, Nasdaq, Oracle, LSEG, Dow, Qualcomm, Apple, Walt Disney, Charter Communications, Street, Fed Locations: New York City, U.S
Qualcomm strikes a new chips deal with Apple
  + stars: | 2023-09-11 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQualcomm strikes a new chips deal with AppleCNBC's Kristina Partsinevelos joins 'Squawk on the Street' to report on Qualcomm's license deal with Apple.
Persons: Apple CNBC's Kristina Partsinevelos Organizations: Qualcomm, Apple
Learn moreThe Galaxy Z Flip 5 is Samsung's newest foldable phone with an updated compact clamshell design. Samsung Galaxy Z Flip 5 The Galaxy Z Flip 5 offers big upgrades, and we mean that literally. Samsung also updated its hinge design for the Z Flip 5 so that it shuts completely flat instead of leaving a gap at the hinge, like previous Z Flip models. Samsung’s new hinge lets the Galaxy Z Flip 5 fold completely flat, without a gap at the hinge. The Galaxy Z Flip 5’s camera quality with boosted brightness and colors will be familiar for long-time Samsung fans.
Persons: it's, Antonio Villas, It's, That's, I'm, I'd, you've, you'll Organizations: Samsung, Boas, Google, YouTube, Qualcomm, Samsung's Galaxy, Galaxy, Apple Locations: 50MP
What China’s new smartphone means for Wall Street
  + stars: | 2023-09-11 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +9 min
Huawei’s feat could mean that Chinese technology has been progressing much faster than previously thought. Before the Bell spoke to Zino about what’s happening and what it means for Wall Street. Huawei’s new smartphone uses an internally developed, very powerful chip that’s manufactured by the Semiconductor Manufacturing International Corporation (SMIC), a partially state-owned Chinese semiconductor foundry. In the long term, this is probably a good thing for the leading semiconductor companies like Nvidia (NVDA) and Qualcomm (QCOM). Furniture companies are in a rutPeople aren’t buying furniture like they used to, reports my colleague Samantha Delouya.
Persons: there’s, Mike Gallagher, Michael McCaul, Angelo Zino, Bell, There’s, they’ve, They’ve, it’s, Anna Cooban, Samantha Delouya, Hooker, , ” Williams, Laura Alber Organizations: CNN Business, Bell, New York CNN —, Huawei, House, Skyworks, Materials, Semiconductor Manufacturing International Corporation, Nvidia, Qualcomm, Intel, Federal Reserve, West Elm Locations: New York, China, Taiwan, Korea, United States, Asia, Saudi Arabia, Europe, Virginia, Wayfair, Williams, Sonoma
Qualcomm said Monday that it will supply Apple with 5G modems for smartphones through 2026. Wall Street analysts and Qualcomm officials had previously said they expected Apple to use an internally developed 5G modem starting in 2024. Qualcomm currently supplies Apple with 5G modems for its iPhones, but Apple has been working to build its own modems to move away from Qualcomm chips. A Qualcomm official said the company was not updating its guidance to take in account the Apple sales. Apple is expected to announce new iPhones, likely called iPhone 15, on Tuesday, which will use Qualcomm modems.
Persons: TechInsights Organizations: Apple, Qualcomm, Wall Street, UBS, Intel, CNBC Locations: Hangzhou, East China's Zhejiang province, China, United States
The presence of Amazon, Qualcomm, Samsung and other tech giants underscores how traditional automakers are looking to bolster the tech in their cars. Ramping up technology features is also essential to meet buyer expectations in China. Driverless features pushA big part of the focus of Tesla technology has surrounded its Autopilot ADAS. No car can operate autonomously — at least from a legal perspective — but automakers are ramping up the driverless features and capabilities. watch nowMore traditional automakers are looking to catch up in the area of driverless features.
Persons: Arjun Kharpal, You'd, Tesla, Mohit Sharma, That's, Xingji, Lucid Organizations: Amazon, IAA, Qualcomm, Samsung, CNBC, CCS Insight, Benz, Swedish EV, Polestar, BMW, Neue Locations: Munich, China, Swedish, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQualcomm strikes new deal with Apple. How the pros say to play itJim Cramer, Jim Lebenthal of Cerity Partners and Joe Terranova of Virtus Investment Partners discussed Qualcomm after the company will announced it will continue to supply 5G chips for iPhones until 2026.
Persons: Jim Cramer, Jim Lebenthal, Joe Terranova Organizations: Qualcomm, Apple, Cerity Partners, Virtus Investment Partners
The second person familiar with the plans confirmed the presence of several large U.S. chips companies, including Amkor, their Vietnamese partners, such as tech company FPT (FPT.HM), and Vietnamese and U.S. top officials, including Secretary of State Antony Blinken. Chip designing firm Marvell has said it plans to build a "world-class" centre in Vietnam. Vingroup (VIC.HM), Vietnam's largest conglomerate and the parent of Nasdaq-listed electric car maker VinFast , has a unit focussed on AI. Boeing may announce a deal involving the sale of 50 of its 737 MAX jets, people familiar with the matter told Reuters. Reporting by Francesco Guarascio @fraguarascio; additional reporting by Fanny Potkin; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.
Persons: Joe Biden, Leah Millis, Antony Blinken, Janet Yellen, Marvell, Francesco Guarascio @fraguarascio, Fanny Potkin, William Mallard Organizations: Warehouse Union, Pacific Maritime Association, White, REUTERS, Rights, Intel, Google, Marvell, Boeing, Reuters, Sunday, Samsung, Qualcomm, Nasdaq, Thomson Locations: Washington , U.S, Rights HANOI, U.S, Hanoi, Vietnam, China, Taiwan
Asa Fitch at The Wall Street Journal
  + stars: | 2023-09-09 | by ( Asa Fitch | ) www.wsj.com   time to read: 1 min
Asa FitchAsa Fitch is a reporter covering the semiconductor companies in The Wall Street Journal’s San Francisco bureau, including Intel, Nvidia and Qualcomm. Prior to his move to California, he spent a decade as a foreign correspondent in the Middle East. He joined the Journal in Dubai, where he initially covered business and finance before shifting to covering regional politics and conflicts in Yemen, Iran, Iraq, Israel and the Palestinian territories. Asa began his career as a general-news reporter in Connecticut and a personal finance reporter in New York. He is a graduate of Carleton College and Columbia University's journalism school.
Persons: Asa Fitch Asa Fitch, Asa Organizations: San, Intel, Nvidia, Qualcomm, Journal, Carleton College, Columbia Locations: San Francisco, California, Dubai, Yemen, Iran, Iraq, Israel, Palestinian, Connecticut, New York
The second person familiar with the plans confirmed the presence of several large U.S. chips companies, including Amkor, their Vietnamese partners, such as tech company FPT (FPT.HM), and Vietnamese and U.S. top officials, including Secretary of State Antony Blinken. Chip designing firm Marvell has said it plans to build a "world-class" centre in Vietnam. Vingroup (VIC.HM), Vietnam's largest conglomerate and the parent of Nasdaq-listed electric car maker VinFast , has a unit focussed on AI. Boeing may announce a deal involving the sale of 50 of its 737 MAX jets, people familiar with the matter told Reuters. Reporting by Francesco Guarascio @fraguarascio; additional reporting by Fanny Potkin; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.
Persons: Joe Biden, Leah Millis, Antony Blinken, Janet Yellen, Marvell, Francesco Guarascio @fraguarascio, Fanny Potkin, William Mallard Organizations: Warehouse Union, Pacific Maritime Association, White, REUTERS, Rights, Intel, Google, Marvell, Boeing, Reuters, Sunday, Samsung, Qualcomm, Nasdaq, Thomson Locations: Washington , U.S, Rights HANOI, U.S, Hanoi, Vietnam, China, Taiwan
Analysts say its new product launches could mark a first step in the company's come-back efforts to rival Apple. "It (Huawei) can manage the psychological expectations of the target consumer group before Apple's press conference," said Ivan Lam, an analyst at Counterpoint. Sino-U.S. friction has worsened in recent years as Washington tries to restrict China's access to key technologies including cutting-edge chip technology, and Beijing looks to reduce its reliance on American tech. The U.S. Commerce Department said late Thursday it's working to obtain more information "on the character and composition" of the new Huawei chip that may violate trade restrictions. White House National Security Adviser Jake Sullivan told reporters on Air Force One the U.S. government is trying to get more information about the Huawei chip.
Persons: Ann Wang, Ivan Lam, Jake Sullivan, Rick Meckler, Taiwan's TSMC, Ben Blanchard, Jeanny Kao, Brenda Goh, Jason Xue, Yelin, Sam Nussey, Miyoung Kim, Clarence Fernandez Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Rights, Huawei, Apple, U.S, China's, Analysts, Reuters, Bank of America, Street, Washington, U.S . Commerce Department, National, Air Force, Qualcomm, Broadcom, Texas, Cherry Lane Investments, Tokyo, ASE Technology, Luxshare Precision Industry, Semiconductor, Technology, Semiconductor Manufacturing International Corp, Thomson Locations: Hsinchu, Taiwan, Rights TAIPEI, U.S, Beijing, China, Asia, Japanese, iPhones, Shenzhen, Shanghai, Yelin Mo, Tokyo
Sino-U.S. friction has worsened in recent years as Washington tries to restrict China's access to key technologies including cutting-edge chip technology, and Beijing looks to reduce its reliance on American tech. A customer talks to sales assistants in an Apple store as Apple Inc's new iPhone 14 models go on sale in Beijing, China, September 16, 2022. "This is textbook Chinese Communist Party behavior - promote PRC (People's Republic of China) national champions in telecommunications, and slowly squeeze Western companies' market access," Gallagher, a Republican, told Reuters. The drop in the technology sector weighed on the three main U.S. stock indexes, particularly the tech-heavy Nasdaq Composite, which closed down 0.9%. IPHONE SLOWDOWNChina has been a bright spot for Apple in an otherwise tough period for iPhone sales.
Persons: chipmaker SMIC, Jake Sullivan, Sullivan, Thomas Peter, Biden, Mike Gallagher, Gallagher, Mark Warner, Rick Meckler, Susannah Streeter, Hargreaves Lansdown, Streeter, Aditya Soni, Jaspreet Singh, Shristi Achar, Diane Bartz, David Gaffen, Shounak Dasgupta, Devika Organizations: Apple, Street, Washington, Huawei, HK, U.S . Commerce Department, National, Air Force, BofA Global Research, Qualcomm, REUTERS, Beijing, Communist Party, People's, Republican, Reuters, U.S, Senate Intelligence Committee, planemaker Boeing, Micron, Broadcom, Texas, Nasdaq, Cherry Lane Investments, Hargreaves, Thomson Locations: Beijing, US, China, U.S, Kirin, People's Republic of China, Bengaluru
3 Buys and a bail: AAPL, AVGO, TSM & QCOM
  + stars: | 2023-09-08 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3 Buys and a bail: AAPL, AVGO, TSM & QCOMDanielle Shay, Simpler Trading VP of options, joins 'The Exchange' to share three buys and a bail, including; Apple, Broadcom, Taiwan Semi and Qualcomm.
Persons: Danielle Shay Organizations: Apple, Broadcom, Taiwan Semi, Qualcomm
China's "stalling" economy is putting some US companies at risk, according to Bank of America. The bank highlighted the top 10 stocks that have the most revenue exposure to China. Applied MaterialsApplied Materials’ new corporate signage photo in Santa Clara California ReutersTicker: AMATMarket value: $122.6 billionRevenue exposure to China: 33%9. Wynn ResortsAdvertisementAdvertisementFILE PHOTO: Wynn Resorts Ltd property in Las Vegas ReutersTicker: WYNNMarket value: $10.7 billionRevenue exposure to China: 40%4. ReutersTicker: LVSMarket value: $38.2 billionRevenue exposure to China: 67%Other companies that have considerable revenue exposure to China include: Intel (27%), Tesla (26%), and Nvidia (26%).
Persons: Savita Subramanian, Santa Clara California, Lam, Shanghai Aly Song Organizations: Bank of America, Service, Santa Clara California Reuters, Broadcom Reuters, IPG Photonics, Wynn, Wynn Resorts Ltd, Las Vegas Reuters, WYNN, Qualcomm, China, Vegas Sands Corp, Reuters, Intel, Nvidia Locations: China, Wall, Silicon, Santa Clara, Las Vegas, Shanghai, Macau
Seagate Technology — Seagate Technology shares dropped about 10.9% after Barclays downgraded the stock to equal weight form overweight. ChargePoint Holdings — Shares of ChargePoint Holdings plunged 10.9% after the electric vehicle charging infrastructure company missed fiscal second-quarter revenue estimates. ChargePoint posted $150 million in revenue, weaker than the $153 million forecast by analysts polled by LSEG, formerly known as Refinitiv. Meanwhile, C3.ai reported an adjusted fiscal first-quarter loss of 9 cents per share on revenue of $72.4 million. Verint Systems — Shares plunged 19.4% in midday trading after the analytics company reported weaker-than-expected second-quarter earnings and revenue.
Persons: Rollins —, ChargePoint, LSEG, StreetAccount, Roku, , Alex Harring, Yun Li, Pia Singh Organizations: Europe's, Kappa, Wall Street, GameStop, Wall, — Semiconductor, Lam Research, Devices, Qualcomm, Nvidia, Intel, Apple, Bloomberg, Street Journal, Technology, Wednesday, Seagate Technology, Barclays, ChargePoint Holdings, LSEG, Buster's Entertainment, Loop Locations: China
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The S&P 500 information technology index (.SPLRCT) fell 1.9% while the Philadelphia semiconductor index (.SOX) dropped 2.8%. ET, the S&P 500 (.SPX) was down 21.95 points, or 0.49%, at 4,443.53, and the Nasdaq Composite (.IXIC) was down 176.52 points, or 1.27%, at 13,695.95. The weightage of a stock on the Dow is proportional to its share value as opposed to the market capitalization-weighted S&P 500 (.SPX.). The S&P index recorded 10 new 52-week highs and 23 new lows, while the Nasdaq recorded 16 new highs and 212 new lows.
Persons: Brendan McDermid, stoked, Rick Meckler, Alibaba, Patrick Harker, John Williams, Dow Jones, Wells, Shristi Achar, Johann M, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Apple, Bloomberg, Nvidia, Netflix, U.S, Cherry Lane Investments, Skyworks, Qualcomm, Labor Department, Traders, PDD Holdings, Baidu, Philadelphia Fed, New York Fed, NYSE, Thomson Locations: New York City, U.S, China, Wells Fargo, Philadelphia, McDonald's, Bengaluru
A customer talks to sales assistants in an Apple store as Apple Inc's new iPhone 14 models go on sale in Beijing, China, September 16, 2022. Apple suppliers and companies with large China exposure including Broadcom (AVGO.O), Qualcomm (QCOM.O) and Texas Instruments (TXN.O) fell between 1.4% and 4.7%. The moves by Beijing also come at a time when Apple is grappling with a decline in iPhone sales, with China being a bright spot in what was an otherwise disappointing quarterly earnings report last month. The sanctions had hammered Huawei's sales in its home country and allowed Apple to take some market share from the national favourite. Apple could, however, see a demand boost after an event next week where it is expected to unveil its iPhone 15 line-up, as well as new smartwatches.
Persons: Thomas Peter, D.A Davidson, Tom Forte, chipmaker SMIC, Aditya Soni, Jaspreet Singh, Shounak Dasgupta Organizations: Apple, REUTERS, company's, Broadcom, Qualcomm, Texas, Reuters, Beijing, planemaker Boeing, Street, HK, Huawei, Bofa Global Research, Thomson Locations: Beijing, China, Washington, The U.S, U.S, Kirin, Bengaluru
Qualcomm Inc. President and CEO Cristiano Amon speaks during the company's press event for CES 2022 at the Mandalay Bay Convention Center on January 4, 2022 in Las Vegas, Nevada. The CEO of U.S. chip giant Qualcomm thinks artificial intelligence could give the smartphone market a fresh lease on life. "The [Snapdragon] Summit is going to be around incredible use cases that we're seeing from our OEMs [original equipment manufacturers] and phones and ... could create a new upgrade cycle for phones." Smartphone sales have depreciated this year as consumers have gotten a lot more cost-conscious. In 2022, global smartphone sales tumbled 11.3% year-over-year to 1.21 billion, the lowest level since 2013, according to data from market research firm IDC.
Persons: Cristiano Amon, CNBC's Arjun Kharpal, Amon Organizations: Qualcomm Inc, Mandalay Bay Convention, CES, Qualcomm, Summit, IDC Locations: Mandalay Bay, Las Vegas , Nevada
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSAN FRANCISCO/MUNICH, Sept 5 (Reuters) - U.S. semiconductor company Qualcomm (QCOM.O) on Tuesday said it will supply chips to power in-car infotainment systems to luxury automakers Mercedes (MBGn.DE) and BMW (BMWG.DE). Qualcomm is the leading supplier of the chips used in smartphones, a market that has slumped over the past year. Qualcomm said in a statement it will supply BMW with chips that will help power voice commands inside the car. It also said it will supply chips for the next version of the Mercedes E class models, which will be available in the U.S. in 2024. "One of the things we're very focused on the company is to find new areas for growth... automotive is one of those areas," Amon said.
Persons: Dado Ruvic, Cristiano Amon, Amon, Stephen Nellis, Victoria Waldersee, Christina Amann, Rashmi Aich, Kim Coghill Organizations: Qualcomm, REUTERS, FRANCISCO, BMW, Mercedes, Arm Holdings, SoftBank Group Corp, Thomson Locations: MUNICH, U.S, Munich, Britain, San Francisco
Until last month, Qualcomm was also the world's biggest fabless chip company. But Qualcomm CEO Cristiano Amon is betting that one day, generative AI will be in high demand off the cloud, too. Qualcomm modems are inside all iPhone models currently being made, including the next model set to come out next week. Today, Qualcomm has more than 140,000 patents. The other lawsuit came from Apple, which sued Qualcomm for roughly $1 billion for charging royalties for technologies Apple said Qualcomm had "nothing to do with."
Persons: Cristiano Amon, Amon, Chris Patrick, Irwin Jacobs, Jacobs, Nobody, Jay Goldberg, Patrick, it's, Daniel Newman, Newman, It's, Donald Trump, Stacy Rasgon, Qualcomm's Amon, CNBC it's Organizations: Qualcomm, Nvidia, Amazon Web Services, CNBC, Apple, Quality Communications, D2D, Futurum, Federal Trade Commission, Broadcom, Bernstein Research, GM, BMW, Samsung, Taiwan Semiconductor Manufacturing Co, Intel Locations: San Diego, China, Taiwan, Asia, That's, U.S, Arizona
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQualcomm CEO: Brightest spot of our diversification strategy is automotiveCristiano Amon said the silicon content in cars is increasing and that's leading to greater demand for autos-focused semiconductors.
Persons: Cristiano Amon Organizations: Qualcomm
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Qualcomm is betting big on AI and auto to hold onto wireless dominanceQualcomm long reigned as the world's biggest fabless chip company, pioneering the cellular age and making the modems inside nearly every smartphone today. But ChatGPT sent Nvidia's revenue soaring past Qualcomm's in August, and Apple is working on its own modems for iPhones in 2024. Now, Qualcomm is diversifying into smart cars, chips for VR headsets and a push to power generative AI off the cloud. CNBC got a look at Qualcomm's chip lab in San Diego to learn more.
Persons: ChatGPT Organizations: Qualcomm, Apple, CNBC Locations: San Diego
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're bringing AI to devices — unlike Nvidia, Qualcomm CEO saysQualcomm CEO Cristiano Amon explains how the U.S. semiconductor giant is taking a different path to Nvidia when it comes to artificial intelligence.
Persons: Cristiano Amon Organizations: Nvidia, Qualcomm Locations: U.S
The company's leaders put all their chips behind a new car they called the "Neue Klasse," or "new class." Now, BMW is at another crossroads, and is turning again to a "Neue Klasse" to drive a new strategic direction. Neue Klasse vehicles will be powered by 48-millimeter-diameter cylindrical batteries in different lengths. The Neue Klasse is targeting a 50% reduction in battery pack costs and 25% more range per kilowatt-hour, a measure of efficiency, executives said. Neue Klasse vehicles will have four "super brains," to control propulsion, driver assistance systems, infotainment and other functions, Weber said.
Persons: trailblazer Tesla, Adrian van Hooydonk, that’s, Frank Weber, Tesla, Oliver Zipse, Evangelos Simoudis, Weber, Mercedes, Stephan Durach, Durach, Joe White, Mark Potter Organizations: Neue, Reuters, BMW, REUTERS, Rights, trailblazer, Volkswagen, Mercedes, Benz, Neue Klasse, Munich, Klasse, chipmaker Qualcomm, Thomson Locations: Munich, Germany, Detroit, Hungary, Silicon
Qualcomm is best known for the chips and modems inside Android phones. But in recent years, it's also started selling a package of hardware chips, sensors and software called Snapdragon Digital Chassis to automakers like GM , Hyundai and Volvo. It reported $1.32 billion in sales in its fiscal 2022, or about 3% of the company’s overall sales. Qualcomm makes between $200 and $3,000 per car that use its chips and software, officials said last fall at an investor event. Qualcomm faces stiff competition from other chipmakers in the car chip business.
Persons: it's Organizations: Qualcomm, GM, Hyundai, Volvo, Apple, Android, Computer, Intel, Nvidia, NXP Semiconductors, Bosch
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