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☆ All eyes are on TSMC earnings as the chipmaker industry faces slowdown worries
▼ + stars: | 2024-10-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Investors are awaiting TSMC earnings for signs of what's to come for the chip sector. The chipmaker will report its full third-quarter earnings in the early hours on Thursday. The stock is up 84% year-to-date, thanks partly to the firm's strong financial results so far in 2024. Traders are waiting for guidance from TSMC executives on the firm's earnings call regarding demand in the current quarter as well as the coming year. Fears about demand were ignited recently when Nvidia reported results for the second quarter in August.

Persons: —, Jensen Huang, Blackwell, Huang Organizations: Service, Taiwan Semiconductor Manufacturing, Nvidia, Apple, P Semiconductor, Traders Locations: Taiwan

☆ Asian chip stocks fall on ASML's disappointing forecast, possible U.S. export cap
▼ + stars: | 2024-10-16 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

Asian chip stocks fell on Wednesday after Dutch semiconductor equipment maker ASML posted disappointing sales forecasts, driving down global stocks in the sector. South Korean chipmaking heavyweight SK Hynix, which manufactures high bandwidth memory chips for AI applications for Nvidia, traded 1.6% lower. Net bookings for the September quarter were 2.6 billion euros ($2.83 billion), the company said — well below the 5.6 billion euro LSEG consensus estimate. Nvidia fell 4.7% and AMD lost 5.2%. In its June-quarter earnings presentation, ASML said that 49% of its sales come from China.

Persons: ASML, Foxconn —, Roger Dassen, — Ryan Browne Organizations: Tokyo, Renesas Electronics, Taiwan Semiconductor Manufacturing Company, Hai Precision Industry, SK Hynix, Nvidia, Samsung Electronics, Nikkei, AMD, Bloomberg, Biden Locations: Korean, Taiwan, ASML, Veldhoven, Netherlands, China

☆ Here's an earnings homework checklist so you can be ready when your companies report
▼ + stars: | 2024-10-15 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Wells Fargo on Friday was the first portfolio name to report third-quarter results, which have been greeted enthusiastically on Wall Street. Morgan Stanley and Abbott Laboratories — both Club names as well — report earnings before Wednesday's opening bell. Revenue and earnings estimates can be found on stock ticker pages on any number of free financial websites and through brokerage account providers. Portfolio management is a must. After considering these factors, be sure to then take a higher-level portfolio management view of your investments.

Persons: Wells, Morgan Stanley, Abbott Laboratories —, Jim Cramer's, —, Eli Lilly, writeups, Stanley Black, Decker, Jim, Jim Cramer, Andrew Kelly Organizations: Abbott Laboratories, Abbott Labs, Microsoft, TJX, Palo Alto Networks, Club, Nvidia, Devices, Taiwan Semiconductor Management Company, Jim Cramer's Charitable, CNBC, Flag, New York Stock Exchange Locations: Wells Fargo, U.S

☆ Asian semiconductor stocks rise after shares of AI chip darling Nvidia hit a record high
▼ + stars: | 2024-10-15 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Asian chip stocks rose on Tuesday after Nvidia closed at a record high overnight as the chip company continues to ride the massive artificial intelligence wave. Stocks tied to Nvidia suppliers as well as other chip companies advanced as the bullish investor sentiment spilled over. Shares of South Korean chipmaker SK Hynix, which manufacturers high bandwidth memory chips for AI applications, for Nvidia surged 2.5%. Samsung Electronics, which is expected to be manufacturing HBM chips for some Nvidia products, saw its shares rise 0.5%. Japanese semiconductor manufacturing firm Tokyo Electron surged 5%, testing equipment supplier Advantest gained 3.6% and Renesas Electronics rose over 4%.

Persons: Stocks Organizations: Nvidia, Korean chipmaker SK Hynix, Samsung Electronics, Taiwan Semiconductor Manufacturing Company, Hai Precision Industry, Tokyo, Advantest, Renesas Electronics, SoftBank Group

☆ Stock market today: Indexes fall from records as chip rout drags tech shares lower
▼ + stars: | 2024-10-15 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

A sell-off in semiconductors pulled stock indexes away from record highs. The decline overshadowed better-than-expected bank earnings results. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Meanwhile, a report that the US is considering export caps on specific chip sales only added to investor concern, pulling the broader chip sector lower. AdvertisementThe rout took attention from Tuesday's bank sector performance, as Goldman Sachs, Bank of America, and Citigroup beat earnings estimates.

Persons: —, Goldman Sachs, Israel, Brent Organizations: Service, Nasdaq, Nvidia, Broadcom, Taiwan Semiconductor Manufacturing Company, Bank of America, Citigroup Locations: Dutch, Israel, Iran, Iranian

☆ Hot chip stocks suffer a tough one-two punch, but there are winners in Tuesday's down market
▼ + stars: | 2024-10-15 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Biden, ASML, Christophe Fourquet, We're, LVMH, Luis Vuitton, it's, Estee Lauder, JB Hunt, Morgan Stanley, Abbott, Wells Fargo, Jim Cramer's, Jim Organizations: CNBC, ., Energy, Technology, Dow, Semiconductors, Nvidia, Devices, Bloomberg News, U.S, Broadcom, Micron, Taiwan Semiconductor Manufacturing, United Airlines, Interactive, Abbott Laboratories, Jim Cramer's Charitable Locations: U.S, France, China, Estee

☆ Earnings will drive the stock market in the week ahead. That's a good thing
▼ + stars: | 2024-10-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

In Friday's look at wholesale inflation, the producer price index was unchanged month over month . We'll hear from Club holdings Morgan Stanley and Abbott Laboratories on Wednesday morning. Morgan Stanley: The ongoing recovery in investment banking will be front and center. That was a key theme in the second quarter , and the hope is that the July-to-September period showed a continuation of the trend for Morgan Stanley. Morgan Stanley has been strong lately, though.

Persons: Jim Cramer, Jim, Gamble, — Wells, industrials, Goldman Sachs, ASML, Morgan Stanley, Morgan Stanley's, Louis, Abbott, Charles Schwab, Johnson, JB Hunt, Kinder Morgan, Huntington, Jim Cramer's, Charly Triballeau Organizations: Club, Dow Jones, Nasdaq, Procter, Federal, JPMorgan, —, Tech, . Utilities, UnitedHealth, Taiwan Semiconductor Manufacturing, Abbott Laboratories, Abbott Labs, NEC, Abbott, Food and Drug Administration, Walgreens Boots Alliance, Citigroup, Bank of America, United Airlines, Interactive, US Bancorp, Citizens, Alcoa, PPG Industries, CSX, Truist, Netflix, Crown Holdings, American Express, Gamble, CNBC, New York Stock Exchange, Financial, Afp, Getty Locations: Wells, U.S, Wells Fargo, St, Taiwan, New York City

☆ A portfolio manager at a $21 billion firm warns the odds of a recession have risen to 40% from 20% as inflation and geopolitical concerns surge — and shares where he's investing
▼ + stars: | 2024-10-12 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Zehrid Osmani, a portfolio manager at the $21 billion investment manager Martin Currie, has actually increased his recession odds. US-China tensions are escalating over Taiwan, home to the world's largest semiconductor foundry, Taiwan Semiconductor Manufacturing Company. Osmani sees what he calls "seismic thematic shifts" in these areas. And Osmani sees potential for parts of the market driving the energy transition, such as alternative energy and electric vehicles. AdvertisementHis top picks include Nvidia (NVDA), Microsoft (MSFT), chemical company Linde plc (LIN), and industrial manufacturing company Atlas Copco (ATLKY).

Persons: Martin Currie, —, Goldman Sachs, Jan Hatzius, Zehrid, Currie, hasn't, Osmani Organizations: Service, Technology, Taiwan Semiconductor Manufacturing Company, Semiconductors, Nvidia, Microsoft, Linde, LIN, Atlas, Martin Currie Global Portfolio Trust Locations: Europe, Russia, Ukraine, Israel, China, Taiwan

☆ Cramer's week ahead: Major banks, Taiwan Semi and Netflix report as earnings season gets into full swing
▼ + stars: | 2024-10-11 | by ( Julie Coleman | ) www.cnbc.com time to read: +3 min

As earnings season takes off, CNBC's Jim Cramer on Friday advised investors about what to follow next week on Wall Street. Bank of America could see a boost now that Warren Buffett is no longer required to frequently report his sales of the stock, Cramer added. Johnson & Johnson , Walgreens and UnitedHealth Group also report earnings on Tuesday, with Cramer noting that the latter regularly beats expectations. Johnson & Johnson this week saw a new development in its ongoing talc lawsuits that could aid resolution efforts. On Friday, Procter & Gamble will report, and Cramer said he's worried about the company's business in China.

Persons: CNBC's Jim Cramer, Cramer, Charles Schwab, Goldman Sachs, Schwab, He's, he's, Warren Buffett, Johnson, Morgan Stanley Organizations: Netflix, Taiwan Semiconductor, Bank of America, Citigroup, Wall, Johnson, Walgreens, UnitedHealth, Abbott Laboratories, Food and Drug Administration, Centers for Disease Control, National Institutes of Health, Nvidia, Procter, Gamble, American Express Locations: China

☆ Nvidia is nearing a record high. This is what's driving it.
▼ + stars: | 2024-10-10 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

Since the start of October, investors and Nvidia watchers have gained a few new numbers to add to their models. AdvertisementThe funding is the clearest sign that investors are still willing to back the biggest bet on generative AI available. OpenAI announced the fresh funding last week, led by Thrive Capital with Microsoft, Nvidia, Softbank, Khosla Ventures, and others participating. Thank you to Nvidia for delivering one of the first engineering builds of the DGX B200 to our office." But, anecdotal evidence of companies finding value in generative AI may be starting to penetrate the investor class as well, according to a new survey from Morgan Stanley.

Persons: —, OpenAI, Billionaire Vinod Khosla, Blackwell, Jensen Huang, Huang, doesn't, David Solomon, Morgan Stanley Organizations: Service, Nvidia, Microsoft, Softbank, Khosla Ventures, Billionaire, CNBC, Taiwan Semiconductor Manufacturing Company Locations: OpenAI, Blackwell

☆ Keep buying these top stock picks in October, Morgan Stanley says
▼ + stars: | 2024-10-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Morgan Stanley is pounding the table on several stocks as investors wait to see if October markets are tumultous or quiet. Morgan Stanley said that even though recent data shows that total cold storage inventory has been down, Lineage still sees plenty of room for growth. Morgan Stanley walked away from Thermo's recent analyst day raving about the stock. Overseas growth, especially in China, remains subdued for now, but Morgan Stanley is optimistic that the latest China stimulus will improve the economic outlook. In addition, Morgan Stanley sees a "significant runway" for higher margins as the Federal Reserve continues its rate-cutting cycle.

Persons: Morgan Stanley, Ronald Kamdem, Kamdem, Tejas Savant, Savant, Manan Gosalia, CRE, Gosalia Organizations: T Bank, Taiwan Semiconductor, Tejas, T, Buffalo, MTB, Federal Reserve, Taiwan Locations: U.S, China

☆ Devastation from Hurricane Helene could bring semiconductor chipmaking to a halt
▼ + stars: | 2024-10-02 | by ( Clare Duffy | Dianne Gallagher | ) edition.cnn.com time to read: +7 min

In addition to this, our teams are joining the local taskforces to try to restore the most basic services and bring further supplies to Spruce Pine,” The Quartz Corp said in a statement. The Quartz Corp facility near Spruce Pine, North Carolina, is seen during a CNN flyover of the area on Monday, September 30. And while quartz is abundant around the world, the kind of ultra-high-purity quartz mined in Spruce Pine is not. The Spruce Pine mines provide an estimated 80% to 90% of the world’s high-purity quartz — experts say the exact amount is proprietary and unknown — supplying semiconductor manufacturers like chipmaking giant Taiwan Semiconductor Manufacturing Company. However, Wang said that despite the scale of the devastation in Spruce Pine, there is still reason for optimism.

Persons: Hurricane Helene, Helene, —, ”, Seaver Wang, Spencer Bost, ” Bost, ’ ” Sibelco, “, Sibelco, that’s, Gregory Allen, David Bader, CSIS’s Allen, Wang, ” Wang Organizations: New, New York CNN, Quartz Corp, Breakthrough Institute, Downtown, CNN, Belgian, Wadhwani Center, AI, Technologies, Center for Strategic, International, Taiwan Semiconductor Manufacturing Company, Institute for Data Science, New Jersey Institute of Technology Locations: New York, North Carolina, Hurricane, Spruce Pine, United States, Sibelco, Silicon, Downtown Spruce, Norwegian, Spruce, Spruce Pine , North Carolina, “

☆ Alex Umansky is obliterating the S&P 500 over the last 5 years. His 8 high-quality stock picks for strong returns.
▼ + stars: | 2024-10-01 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Baron Durable Advantage Fund, managed by Alex Umansky, is up 136% in five years. It's the Baron Durable Advantage Fund (BDAIX), overseen by one of the firm's star managers, Alex Umansky. It's "the closest thing we have to an all-weather fund," Umansky told Business Insider. When putting a stock in the fund, Umansky said he has so much confidence in the quality and advantages of the business that he intends to hold it forever. The semiconductor producers make up 4.1% and 4.3%, respectively, of the Baron Durable Advantage Fund.

Persons: Alex Umansky, —, Ron Baron, Umansky, Baron, weren't, it's, OpenAI, That's Organizations: Broadcom, Taiwan Semiconductor, Meta, Microsoft, Service, Spotify, Business, Nvidia, Growth, Arch, Apollo Global Management Locations: Blackstone

☆ India to fabricate its first chip in two years as Nvidia, AMD and Micron pledge to expand to the country
▼ + stars: | 2024-10-01 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

Indian Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Shri Piyush Goyal is talking to media on EU-India trade relations. India will fabricate its first chip in two years, Commerce Minister Piyush Goyal told CNBC during a one-on-one interview in New York. Nvidia , AMD , Micron are among the U.S. companies that have pledged to expand in the country. Goyal added that Indian behemoth Tata and other domestic companies are working to make India's semiconductor dream a reality. And according to Goyal, Indian customers are increasingly opting for the more expensive iPhones.

Persons: Piyush Goyal, chipmakers, Goyal, behemoth Tata, Narendra Modi, Apple, Warburg Pincus Organizations: of Commerce and Industry, Consumer Affairs, Food, Commerce, CNBC, Nvidia, AMD, Micron, behemoth, Taiwan Semiconductor Manufacturing Company, Samsung, U.S, Apple, BlackRock, KKR, Google, Microsoft Locations: India, New York, Silicon Valley, China, Goyal

☆ Surging AI demand could cause the world's next chip shortage, research says
▼ + stars: | 2024-09-25 | by ( Arjun Kharpal | Arjun Kharpal Is A Senior Correspondent For Cnbc In London. | ) www.nbcnews.com time to read: +3 min

The last major semiconductor shortage happened during the Covid-19 pandemic amid supply chain disruption and a rise in demand for consumer electronics as people were forced to stay and work at home. These GPUs which are housed in data centers are critical for the training of huge AI models which underpin applications like OpenAI’s ChatGPT. Bain said demand for GPUs and AI consumer electronics could be the cause of a chip shortage. The semiconductor supply chain is spread across multiple companies. “Geopolitical tensions, trade restrictions, and multinational tech companies’ decoupling of their supply chains from China continue to pose serious risks to semiconductor supply.

Persons: Bain, Anne Hoecker, TSMC, ” Bain Organizations: Bain & Co, Technology, Nvidia, Qualcomm, Samsung, Microsoft, Bain, CNBC, Taiwan Semiconductor Manufacturing Co, Samsung Electronics, Washington Locations: Americas, Taiwan, Netherlands, U.S, China

☆ Betting chip stocks will revisit bull market highs is the trade of the fourth quarter, says Evercore ISI
▼ + stars: | 2024-09-25 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Chip stocks could return to their bull market highs and beyond, and be the key trade of the fourth quarter, according to Evercore ISI. In fact, Rich Ross, head of technical analysis at the firm, expects there is 20% more upside to semiconductor stocks as represented by the VanEck Semiconductor ETF (SMH) into year-end. Similarly, the iShares Semiconductor ETF (SOXX) climbed more than 18% this year, about in line with the S & P 500. SOXX 1D mountain iShares Semiconductor ETF (SOXX) But the technical setup is encouraging from here, Ross said. Now that semiconductor stocks have double bottomed above key support levels — a technical pattern that suggests new upside potential — the sector is clear to outperform, he said.

Persons: Rich Ross, Ross Organizations: ISI, VanEck Semiconductor, iShares Semiconductor, Semiconductor, Broadcom, Taiwan Semiconductor Manufacturing, Micron Technology, Nvidia

☆ China's worsening relationship with US businesses could put AI's chip supply on shaky ground
▼ + stars: | 2024-09-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, China isn't proving to be the economic promised land US companies once hoped for . US-China relations have been on shaky ground for a while, to put it mildly. But despite the growing animosity, US corporations' push to sell things to Chinese consumers has been a middle ground everyone can agree on. AdvertisementTaiwan Semiconductor Manufacturing Company makes vital hardware components for most the world's chip companies, including industry giant Nvidia. Nvidia CEO Jensen Huang recently said his company has a backup plan if things were to kick off in Taiwan .

Persons: —, Jamie Dimon, Tyler Le, Insider's Linette Lopez, It's, that's, Kiran Ridley, Stringer, Getty, Jensen Huang, Huang, Alyssa Powell, Trump, Harris, isn't, Howard Marks, Marks, Rebecca Noble, Vance, Tom Brady, Jeff Bezos, it's, Ryan Routh, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Amanda Yen, Grace Lett, Milan Sehmbi Organizations: Service, Business, China Xinhua News Agency, Getty, Apple, Nike, Huawei, Taiwan Semiconductor Manufacturing Company, Nvidia, Billionaire, Economic Forum Locations: Washington ,, China, China . US, Washington, Beijing, Taiwan, USA, Florida, New York, London, Chicago

☆ TSMC and Samsung in talks with UAE to build chip megafactories, WSJ reports
▼ + stars: | 2024-09-23 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

South Korea-based Samsung Electronics has also been considering investing in building chip manufacturing facilities in the country in the coming years. The Gulf state has been ramping up efforts and investments in developing its domestic tech industry as it works to build its position as a global hub for advanced technology and artificial intelligence. However, the discussions with UAE officials are still in the early stages, the report said. A tug-of-war between the U.S. and China has played out in the region as tech deals speed up and Washington grows increasingly wary over Beijing's influence in the Gulf state. TSMC and Samsung have held discussions with U.S. officials who are worried about potential shipments of advanced AI chips coming from UAE-based plants to China.

Persons: Alex Capri Organizations: Dubai International Financial, Global, Taiwan Semiconductor Manufacturing Co, Samsung Electronics, United, Street, TSMC, South Korean, UAE, U.S, Samsung, National University of, CNBC, Wall Locations: Dubai, United Arab Emirates, Burj, Gulf, Taiwan, South Korea, China, Washington, UAE, The U.S

☆ Intel's wild week leaves Wall Street more uncertain than ever about chipmaker's future
▼ + stars: | 2024-09-21 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

The rally provides little relief to CEO Pat Gelsinger, who has had a tough run since taking the helm in 2021. Intel CEO Pat Gelsinger speaks while showing silicon wafers during an event called AI Everywhere in New York, Thursday, Dec. 14, 2023. That prospect would be more palatable to Wall Street if Intel's core business was at the top of its game. Microsoft CEO Satya Nadella said in February that it would use Intel to produce a chip, but didn't provide details. U.S. President Joe Biden listens to Intel CEO Pat Gelsinger as he attends the groundbreaking of the new Intel semiconductor manufacturing facility in New Albany, Ohio, U.S., September 9, 2022.

Persons: Patrick Gelsinger, Brendan Smialowski, Pat Gelsinger, Seth Wenig, Gelsinger, CNBC's Jon Fortt, Intel hasn't, Fortt, Satya Nadella, Joe Biden, Joshua Roberts Organizations: Intel, AFP, Getty, CNBC, Qualcomm, Nvidia, AP, U.S, Taiwan Semiconductor Manufacturing Company, Samsung, Apple, Microsoft, Intel Foundry Locations: Chandler , Arizona, New York, Silicon Valley, Poland, Germany, Malaysian, New Albany , Ohio, U.S

Qualcomm recently approached struggling chipmaker Intel about a takeover, CNBC has confirmed. Intel shares initially popped on the news before closing up about 3%, while Qualcomm shares fell about 3% at the close. Intel shares are down 53% this year as investors express doubts about the company's costly plans to manufacture and design chips. Intel has also missed out on the artificial intelligence boom that's captured the attention of Wall Street. Intel was unsuccessful with its attempted acquisition of Tower Semiconductor, as was Qualcomm in its bid to acquire NXP Semiconductor.

Persons: Patrick Gelsinger, Trump Organizations: Qualcomm, Intel, CNBC, Taiwan Semiconductor Manufacturing Company, Samsung, Nvidia, Tower Semiconductor, NXP Semiconductor, Broadcom, Federal Trade Commission Locations: China, Singapore, Europe, Asia

☆ Nvidia vs. Alphabet: Fund manager reveals which to hold, and which to sell
▼ + stars: | 2024-09-18 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

Google-parent Alphabet has long been an investor favorite among tech stocks, but one portfolio manager says he's now steering clear. Shares in Alphabet are up around 13% year-to-date and trade around 20.6 times forward earnings, according to FactSet data. 'Core investments' Beyond Alphabet, Cvetanovski remains bullish on other tech stocks, naming Nvidia , Vertiv , ASML , Taiwan Semiconductor Manufacturing Co and Schneider Electric as his "core investments." Nvidia is trading at over 41 times forward earnings, according to FactSet data. Analysts' average price target is $149.49, giving it 28% potential upside, FactSet data shows.

Persons: he's, We've, SearchGPT, Jordan, OpenAI, Cvetanovski, we've, — CNBC's Jennifer Elias Organizations: Google, Microsoft, Pella Funds, Apple, Nvidia, Taiwan Semiconductor Manufacturing Co, Schneider Electric Locations: Sydney, Pella, Cvetanovski, ASML

☆ Amazon's five-days-in-the-office mandate could be the start of a wider RTO shift
▼ + stars: | 2024-09-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

A Business Insider reporter found out by enlisting in the city's 'elite squad of anti-rat activists.' What's on deck:This story is available exclusively to Business Insider subscribers. In February 2023, it announced plans to require most office workers to show up in-person three days a week. And in the hyper competitive world of Big Tech, other tech giants might follow suit rather than risk getting bad-mouthed by rivals to their clients. How can insert Big Tech company really serve you best when its people are home half the time?

Persons: —, RTO Nickilford, Maria Ivanova, Getty, Tyler Le, Andy Jassy, Slack, It's, Miranda Jones, Donald Trump, Trump, Fundstrat's Tom Lee, Elon Musk, Joe Biden, Kamala Harris, Apple's, TikTok, Chris Williams, We're, Stephen Nedoroscik, Anna Delvey, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, New York, Business, Amazon, Big Tech, Employees, McKinsey, Trump Media, Vanguard, Anadolu, Getty, Elon, Taiwan Semiconductor Manufacturing Company, Nvidia, Apple, DOJ, Microsoft, Open, It's Locations: New, North America, New York, London

☆ Meet 14 power players leading TSMC, the world's biggest chipmaker that's taken center stage as the AI wars heat up
▼ + stars: | 2024-09-16 | by ( Helen Li | ) www.businessinsider.com time to read: +1 min

TSMC's chip foundry model enabled fabless companies like Nvidia and Apple to thrive. Go to newsletter preferences Thanks for signing up! AdvertisementThere is a good chance that Taiwan Semiconductor Manufacturing Company, or TSMC, is involved in almost every electronic device you see. Founded in 1987 by entrepreneur Morris Chang, the silicon wafer maker used a pure-play foundry model. This model involved other companies designing computer chips and then contracting TSMC to manufacture them.

Persons: C.C, —, Morris Chang, It's Organizations: Nvidia, Apple, Service, Taiwan Semiconductor Manufacturing Company, Qualcomm, AMD, Intel, Samsung Locations: Arizona

☆ Biden administration awards Intel up to $3 billion under the Chips Act
▼ + stars: | 2024-09-16 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

The Biden Administration on Monday awarded Intel up to an additional $3 billion under the CHIPS and Science Act for the "Secure Enclave" program which is designed to expand the supply of microelectronics for the U.S. Department of Defense. Intel is building foundry plants in four states as part of its project to increase domestic semiconductor manufacturing for other suppliers. In March, the Biden administration awarded Intel with up to $8.5 billion under the CHIPS and Science Act. Intel CEO Pat Gelsinger, in a recent meeting with Commerce Secretary Gina Raimondo, voiced frustration over the heavy reliance that U.S. companies have on Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker. The company announced in August it would cut 15% of its workforce as part of a $10 billion cost-reduction plan.

Persons: Biden, Pat Gelsinger, Gina Raimondo, Intel's, Chris George, —, Seema Mody, Rohan Goswami Organizations: Biden, U.S . Department of Defense, Intel, CNBC, Taiwan Semiconductor Manufacturing, Department of Defense, Rapid, Microelectronics, United States Locations: United

☆ Apple leads tech sell-off after analyst warns of light iPhone 16 demand
▼ + stars: | 2024-09-16 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Apple shares were down 3% on Monday, leading a drop in the wider tech sector. The slide came after analyst Ming-Chi Kuo warned of light iPhone 16 demand. The lack of demand for the newest iPhone is likely because Apple has yet to roll out its most anticipated new feature, Apple Intelligence, Kuo said. Advertisement"One of the key factors for the lower-than-expected demand for the iPhone 16 Pro series is that the major selling point, Apple Intelligence, is not available at launch alongside the iPhone 16 release," Kuo said in a Sunday note. "In that case, I believe that Apple will implement more aggressive iPhone product strategies in 2025 to stimulate market demand," Kuo said.

Persons: Ming, Chi Kuo, —, TF International Securities analyst Ming, Kuo Organizations: Apple, Semiconductor, Nasdaq, Service, TF International Securities analyst, Apple Intelligence, Dow Jones, Micron, Broadcom, Inc, Taiwan Semiconductor Manufacturing Company

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