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ABU DHABI—Last year, the United Arab Emirates became a hub for Russian money and cut oil production, boosting Moscow’s war chest and drawing protests from Washington. The country’s leader skipped a call from President Biden as the U.S. rallied support for Ukraine. Now, Emirati President Sheikh Mohamed bin Zayed Al Nahyan has been invited for a state visit to Washington, and the U.S. and U.A.E. are hammering out a formal agreement on defense and commerce after jointly committing $100 billion for clean-energy projects—a major Biden administration goal. All the while, the Emiratis have expanded ties with Russia and another U.S. rival, China.

☆ Starbucks, Estée Lauder, Qualcomm: Global companies warn of slower-than-expected recovery in China
▼ + stars: | 2023-05-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Starbucks (SBUX) and Qualcomm (QCOM) have also flagged uncertainties related to the country, which is a top market for both. Beijing abandoned its zero-Covid policy in December and scrapped longstanding quarantine requirements for international arrivals in January, ending restrictions that had isolated its economy. The welcomed, if abrupt, policy U-turn led to hopes that China could help propel global growth as it had before the pandemic. The idea was that as soon as the zero-Covid policy would be over, the Chinese households and consumers would just go berserk. Starbucks warned last Tuesday that sales growth in China was starting to cool — and likely would continue that trajectory over the next six months.

While Qualcomm hopes smartphone sales will recover in China in the second half of the year, CEO Cristiano Amon told investors on a conference call that "we have not seen evidence of meaningful recovery and are not incorporating improvements into our planning assumptions." The company said a larger-than-normal decline in its chip revenue forecast from the prior quarter was mainly due "to the timing of purchases by a modem-only handset customer." Qualcomm forecast chips revenue of $6.9 billion to $7.5 billion. Qualcomm also faces stiffer competition, especially for high end smartphone chips, from Taiwan's MediaTek (2454.TW). Qualcomm forecast total revenue of $8.1 billion to $8.9 billion in the third quarter.

The company said a larger-than-normal decline in its chip revenue forecast from the prior quarter was mainly due "to the timing of purchases by a modem-only handset customer." Qualcomm forecast chips revenue of $6.9 billion to $7.5 billion. Smartphone demand has remained weak despite promotions and price cuts. Qualcomm also faces stiffer competition, especially for high end smartphone chips, from Taiwan's MediaTek (2454.TW). Qualcomm forecast revenue of $8.1 billion to $8.9 billion in the third quarter.

☆ Qualcomm's disappointing guidance on slow China recovery will force our hand on the stock
▼ + stars: | 2023-05-03 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Revenue in the quarter fell about 17% year-over-year to $9.27 billion, beating analysts' forecasts of $9.1 billion, according to Refinitiv. In the quarter, Qualcomm won 12 new designs across its Snapdragon Cockpit and Snapdragon Connectivity 5G platforms with automakers. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Qualcomm gives light forecast, phone chip sales fall 17%
▼ + stars: | 2023-05-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Analysts were expecting current-quarter earnings guidance of $2.16 per share, but Qualcomm said it expected it that to be around $1.80. Qualcomm reported second-quarter earnings on Wednesday that were in line with analyst expectations but saw sales from handset chips, a core business for the company, decline 17% on an annual basis. The biggest part of QCT's sales come from handset chips, which are the processors at the heart of most Android phones. Qualcomm reported $6.11 billion in handset sales, down 17% from last year. Qualcomm said it made $900 million in share repurchases and paid $800 million in dividends during the quarter.

☆ Courtney Dauwalter: The fun-fuelled ultra-marathon star defying science
▼ + stars: | 2023-04-29 | by ( Matt Foster | ) edition.cnn.com time to read: +9 min

CNN —Most people’s idea of fun wouldn’t involve running for hours on end through brutal, undulating terrain – but ultra-marathon sensation Courtney Dauwalter is no ordinary person. Dauwalter, a four-time ‘Ultra Running Magazine Ultrarunner of the year,’ holds multiple course records for the obscenely long races around the US and abroad. Pizza and pints"There is no right or wrong path to completing a 100 or 200-mile race," says Dauwalter. Joe Amon/Denver Post/Denver PostTrue to character, Dauwalter has a positive and novel method of coping with the unexpected visions. “For me, training, racing and exploring what’s possible with these ultra-races, the really long trail ones, is fun,” Dauwalter says.

☆ Yemen Stampede Kills 78 at Ramadan Charity Event
▼ + stars: | 2023-04-20 | by ( Saleh Al-Batati | Michael Amon | ) www.wsj.com time to read: 1 min

Trapped people attempted to free themselves during a stampede in San’a, Yemen, on Wednesday. Photo: AL MASIRAH TV/REUTERSDUBAI—A stampede at a charity event killed at least 78 people in Yemen Wednesday night and left dozens of others injured, authorities said, in the deadliest incident in years not directly related to fighting in the country’s brutal civil war. The stampede took place in the capital of San’a where authorities said a merchant was distributing financial aid at a school for the Islamic holy month of Ramadan, which is coming to an end this week. Each person was to receive 5,000 Yemeni rials, or about $9.

Atul Gupta and his brother Rajesh allegedly leveraged their close ties to South Africa’s government to build a business empire. South Africa’s justice minister said that the United Arab Emirates had refused the extradition of two India-born brothers who were allegedly at the center of a large government corruption scandal in Africa’s most developed economy. South African authorities say that Atul and Rajesh Gupta for years leveraged their close ties to former President Jacob Zuma and other senior officials in the ruling African National Congress to build a business empire that once stretched from media to mining. Failure to try them in South Africa would be a big blow for President Cyril Ramaphosa , who took over in 2018 after the ANC ousted Mr. Zuma largely because of his alleged ties to the Gupta brothers.

Russian President Vladimir Putin, wearing a blue suit, in a meeting with Iran’s President Ebrahim Raisi last summer. Russia is helping Iran gain advanced digital-surveillance capabilities as Tehran seeks deeper cooperation on cyberwarfare, people familiar with the matter said, adding another layer to a burgeoning military alliance that the U.S. sees as a threat. The potential for cyberwarfare collaboration comes after Iran has, according to U.S. and Iranian officials, sold Russia drones for use in Ukraine, agreed to provide short-range missiles to Moscow and shipped tank and artillery rounds to the battlefield. Tehran is seeking the cyber help along with what U.S. and Iranian officials have said are requests for dozens of elite Russian attack helicopters and jet fighters and aid with its long-range missile program.

☆ A deadline looms for rules governing deep-sea mining, but a rushed decision may be risky
▼ + stars: | 2023-03-27 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +12 min

Proponents say that deep-sea mining there is a less damaging way to gather metals like nickel, copper, manganese and cobalt. Opponents of deep-sea mining say there is not enough information to make that kind of decision. Critics of the idea of deep-sea mining have said the process is being rushed. That's what's behind the drive for diversity of supply on land-based mining, as well as exploration of alternatives such as deep-sea mining." Finding consensus for the Wild West of the seaOpponents of deep-sea mining want to tap the brakes.

☆ Here’s our fourth-quarter earnings report card for all the stocks in our portfolio
▼ + stars: | 2023-03-10 | by ( Zev Fima | ) www.cnbc.com time to read: +20 min

Fourth-quarter earnings season is in the rearview mirror and most Club stocks reported results ahead of, or in line with, analysts' forecasts. Moreover, excluding foreign exchange fluctuations, this marked the ninth quarter in a row of 20% or better annual earnings growth. Nvidia (NVDA) reported a very strong quarter and better-than-expected guidance for the current quarter . Eli Lilly 's (LLY) fourth-quarter results came up a bit short on revenue but delivered a strong bottom line. Despite missing on top-line expectations, Wells Fargo 's (WFC) earnings came in better-than-expected, as the bank realized the benefits of higher interest rates .

☆ The popularity of ChatGPT is a 'milestone' in establishing Qualcomm as an A.I. company, CEO says
▼ + stars: | 2023-03-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The explosive popularity of ChatGPT is an opportunity to show off the capabilities of artificial intelligence on smartphones, according to chip company Qualcomm 's chief executive. "This is the milestone we've been waiting for to establish Qualcomm as an AI company," Cristiano Amon told CNBC at the Mobile World Congress in Barcelona. Developed by research company OpenAI, chatbot ChatGPT has been shared widely online, as users ask it to answer questions, generate text or provide detailed, responsive information. Qualcomm recently released videos of text being used to generate AI images on an Android phone, which it also demonstrated at the conference. "For you to make that happen, you can't run everything in a data center, you're going to have to bring the AI to the devices."

☆ Qualcomm CEO says he’s expecting Apple to use its own modems in iPhones in 2024
▼ + stars: | 2023-03-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Apple is moving to in-house 5G modem chips for its 2024 iPhones, as far as the chief executive of Qualcomm — which currently produces them for the tech giant — is aware. "We're making no plans for 2024, my planning assumption is we're not providing [Apple] a modem in '24, but it's their decision to make," Cristiano Amon told CNBC at the Mobile World Congress in Barcelona. Apple's most recent iPhone 14 models use Qualcomm modems, but the company has been looking to go solo in the wireless connectivity market for some years. It bought Intel's modem business in 2019 and there had been speculation it would begin using in-house parts this year. Amon did not confirm whether Apple would pay Qualcomm QTL licenses if it moves to its own modems, but said royalty was "independent from providing a chip."

☆ ChatGPT a 'milestone' for Qualcomm as it showcases A.I. smartphone capability, CEO says
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChatGPT a 'milestone' for Qualcomm as it showcases A.I. smartphone capability, CEO saysQualcomm CEO Cristiano Amon on the ability to bring A.I. language models to smartphones and the next frontier of "mixed reality."

☆ Qualcomm CEO says no plans to provide Apple modem in 2024
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQualcomm CEO says no plans to provide Apple modem in 2024Cristiano Amon, CEO of semiconductor firm Qualcomm, discusses Apple's move into making its own modem, the company's legal battle with Arm, and how A.I. will impact the smartphone market.

☆ House Committee Warns of Beijing’s Threat to U.S. Interests and Values
▼ + stars: | 2023-03-01 | by ( ) www.wsj.com time to read: 1 min

Qualcomm CEO Says AI and VR Are Future of BusinessChip makers, like Qualcomm, have been hit by the slowdown of smartphone sales. But the company's CEO says focusing on more sophisticated computing tasks, like supporting artificial intelligence, and virtual reality are the company’s future. Cristiano Amon spoke with Wall Street Journal senior personal tech columnist Joanna Stern at MWC. Zoe Thomas of WSJ Tech News Briefing hosts. Photo by Josep Lago/Getty Images.

☆ Biden taps CEOs of 3M, CVS, FedEx, Citi, others to join his Export Council on trade
▼ + stars: | 2023-02-28 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

U.S. President Joe Biden has appointed the heads of Citigroup , United Airlines , CVS , 3M and FedEx , among other top executives, to sit on a White House advisory committee overseeing international trade. The President's Export Council gives recommendations and insight into the ways government policies impact U.S. trade performance. The group also provides feedback on how Biden's trade policies are affecting businesses across sectors from industry and labor to agriculture. She previously served as chief operating officer and group president of Starbucks and CEO of Sam's Club. The Export Council features expertise from labor, real estate, national security and law, and leaders of Fortune 200 companies.

☆ Israeli President Appeals for Changes to Netanyahu’s Judicial Overhaul
▼ + stars: | 2023-02-13 | by ( Michael Amon | Dov Lieber | ) www.wsj.com time to read: 1 min

Israeli President Isaac Herzog’s job is largely ceremonial, but his words can carry weight in a deeply divided country. TEL AVIV—Israeli President Isaac Herzog on Sunday asked Prime Minister Benjamin Netanyahu to delay making changes to the judicial system and appealed for a compromise with opponents who say the plans threaten the country’s democracy. Mr. Netanyahu’s recently sworn-in government is advancing plans that would give the ruling coalition control over appointing judges and allow a simple majority of lawmakers to override decisions by the country’s Supreme Court. The plan would also limit which cases the court can hear.

☆ ChatGPT ignited a new A.I. craze. What it means for tech companies and who's best positioned to benefit
▼ + stars: | 2023-02-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +8 min

Since the launch of ChatGPT late last year, no one in the tech world can seem to stop talking about artificial intelligence. CEO Sundar Pichai announced Thursday that the company will launch its LaMDA language model and new AI features "very soon ." But it's not just technology companies rethinking AI. We combed through earnings transcripts available through FactSet to find out what some of the biggest tech companies are saying about the latest craze and who could benefit the most. Preparing for an 'AI arms race' in tech There's no question that Microsoft stands to gain from ChatGPT and the AI push on Wall Street.

Here's the Club's condensed earnings reaction for Starbucks, Ford Motor and Qualcomm. Guidance Starbucks' fiscal 2023 guidance remains unchanged, CFO Rachel Ruggeri said on the company's earnings call, despite continued headwinds related to China's Covid recovery. Ford Motor Quarterly commentary Ford Motor (F) reported a messy fourth quarter Thursday, with adjusted earnings per share coming in well below Street expectations and overshadowing a topline revenue beat. F 5D mountain Ford (F) 5-day performance Guidance Ford said Thursday it expects full-year adjusted earnings before interest and taxes to total between $9 billion and $11 billion. Qualcomm Quarterly commentary Qualcomm 's (QCOM) fiscal 2023 first-quarter earnings topped analysts' estimates Thursday, despite lighter-than-projected revenues in the three months ended Dec. 25.

☆ Qualcomm revenue falls 12%, guidance implies more pain this quarter
▼ + stars: | 2023-02-02 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Here's how the company did:Earnings: $2.37 per share, adjusted, vs. $2.34 per share as expected by analysts, according to Refinitiv. $2.37 per share, adjusted, vs. $2.34 per share as expected by analysts, according to Refinitiv. Revenue: $9.46 billion, vs. $9.60 billion as expected by analysts, according to Refinitiv. Qualcomm's overall revenue decreased 12% year over year in the quarter, which ended Dec. 25, according to a statement. In the quarter Qualcomm and Renault Group announced an extension of their collaboration and said Qualcomm would invest in Ampere, the automaker's electric and software company.

On Monday, South Korean President Yoon Suk Yeol announced that the United Arab Emirates had pledged a staggering $30 billion in investment in the Asian country. The news came after the leaders of the two nations held talks in Abu Dhabi on Sunday, in a landmark trip that marked the first-ever state visit to the UAE by a South Korean president, according to a statement from Yoon’s office. In total, representatives from approximately 100 South Korean companies traveled with the president, according to his office. Some South Korean firms also agreed to build farms for tomatoes and strawberries in the UAE, a country that relies heavily on imports of agricultural products. Going forward, South Korea “will be a key partner in the global supply chain,” using its expertise in sectors such as semiconductors and steel-making to help stabilize supply chains, he pledged.

☆ Qualcomm CEO: We'll need to double total semiconductor manufacturing in the next decade
▼ + stars: | 2023-01-17 | 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 CEO: We'll need to double total semiconductor manufacturing in the next decadeQualcomm CEO Cristiano Amon joins 'Squawk Box' to discuss how Amon's navigated the trying time for semiconductor companies, Qualcomm diversifying its supply chains, and more.

☆ Qualcomm says its move beyond smartphones is working. We're waiting to see the results
▼ + stars: | 2023-01-17 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

Qualcomm CEO Cristiano Amon said Tuesday the chipmaker's move beyond smartphones is working — but we want to see the Club holding's upcoming earnings report before we rethink our cautious approach. In a similar way, Qualcomm also is expanding its presence in the automotive industry as cars become more technologically advanced. Amon also downplayed the company's reliance on Apple, which has been working to replace Qualcomm's chips with its own 5G modem chip . The Club has generally adopted a cautious approach to Qualcomm in recent months, particularly after that November earnings print with weak guidance. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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