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☆ ASML earnings drag semiconductor stocks lower
▼ + stars: | 2024-04-17 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Chip stocks fell on Wednesday after ASML, a key developer of semiconductor manufacturing equipment, said that bookings fell by 61% sequentially during the first quarter, a steeper drop than investors had expected. During trading on Wednesday, AMD's stock fell over 4%, Nvidia shares fell about 3%, Intel shares fell nearly 2% and Qualcomm was off 2%. But the biggest drop affected chip technology firm Arm , which was trading nearly 10% lower on Wednesday. ASML fell over 8% on a day when the entire S&P 500 index was only down less than 1%. ASML also said that it expected that government subsidies for chip factories, such as the CHIPS Act in the U.S., would boost its sales.

Persons: Carl Zeiss ZMT, ASML, Peter Wennink, Wennink, Christophe Fouquet Organizations: Nvidia, Intel, Qualcomm, Samsung, Apple Locations: Taiwan, South Korea, U.S, China

☆ 10 things to watch in the stock market Tuesday: Morgan Stanley beats, Nvidia call
▼ + stars: | 2024-04-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Revenue of $15.14 billion tops $14.46 billion estimate, and $2.02 in earnings per share (EPS) clears $1.66 estimate. IB revenue better than expected. UnitedHealth Group are earnings better than feared. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, Vimal Kapur, Evercore, Uber, Goldman, Jim Cramer's, Jim Cramer, Jim Organizations: Club, Big, WM, Bank of America, Revenues, Johnson, Pharma, Devices, UnitedHealth, Healthcare, Honeywell, Deutsche Bank, Barclays, Tyson, Intel, Qualcomm, Nvidia, Broadcom, Marvell, Texas, Technology, NXP Semiconductors, TAM, Jim Cramer's Charitable, CNBC

The U.S. has passed a series of export controls starting in October 2022 aimed at restricting China's access to advanced chip technology, particularly those used in AI applications. According to data from tech consultancy Omdia, China consumes nearly 50% of the world's semiconductors as it is the biggest market for assembling consumer devices. But, soon after, it was reported that Nvidia was working on a new chip made for China. The company did not respond to a request for comment on their plans for the China market. An analysis of Huawei's Mate 60 Pro smartphone by TechInsights revealed an advanced chip made by China's top chip maker, SMIC.

Persons: Wong Yu Liang, Chris Miller, William B, Bailey, Donald Trump, TechInsights Organizations: AMD MU, P Global, Intel, Broadcom, Qualcomm, Marvell Technology, U.S, The, CNBC, Nasdaq, Intelligence, Micron Technology, AMD, Nvidia, Huawei, Semiconductor Industry Association, America's Micron, country's Cyberspace Administration, Micron Locations: China, The U.S, U.S, Washington, Xi'an, Netherlands, Beijing

☆ Calls of the Day: Chevron, Qualcomm, Costco, Nasdaq and American Express
▼ + stars: | 2024-04-11 | 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 EmailCalls of the Day: Chevron, Qualcomm, Costco, Nasdaq and American ExpressThe Investment Committee discuss the latest Calls of the Day.

Organizations: Chevron, Qualcomm, Costco, Nasdaq, American Express, Investment

☆ Here are Thursday's biggest analyst calls: Nvidia, Costco, Apple, Snowflake, Meta, Nike, Disney, Airbnb & more
▼ + stars: | 2024-04-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Alphabet as buy Goldman said it's sticking with its buy rating following the company's Google Cloud Next event. "We are initiating coverage of Airbnb (ABNB) with a BUY rating and a $190 per share price target." "Following a period of restriction, we are moving to an Overweight rating and a December 2024 price target of $140." "Given the increase in stock price, we believe valuation levels have disconnected from the fundamental outlook." Piper Sandler reiterates Meta as overweight Piper raised its price target on the stock to $600 per share from $525. "

Persons: Evercore, it's bullish, Goldman Sachs, Goldman, Berenberg, TD Cowen, Visa, Oppenheimer, it's, Snowflake, Raymond James, Simona Jankowski, Wells, Morgan Stanley, Moffett, We've, Marsh, Bernstein, Kenvue, underperform Bernstein, Johnson, Needham, Airbnb, CVX, TTE, Piper Sandler, Meta, Piper, Wells Fargo Organizations: JPMorgan, Apple, Mastercard, Barclays, Nasdaq, Nvidia, UBS, Gartner, IT, Deutsche Bank, ATI, Deutsche, Disney, Microsoft, TEAM, " Bank of America, Nike, of America, Citi, Robinhood, MMC, Qualcomm, Johnson, Consumer, Scotiabank, Hamilton Insurance, Costco, ~$ Locations: Albemarle, Chevron

☆ Intel unveils latest AI chip as Nvidia competition heats up
▼ + stars: | 2024-04-09 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Nvidia has an estimated 80% of the AI chip market with its graphics processors, known as GPUs, which have been the high-end chip of choice for AI builders over the past year. Intel says the new Gaudi 3 chip is over twice as power-efficient as and can run AI models one-and-a-half times faster than Nvidia's H100 GPU. Intel on Tuesday unveiled its latest artificial intelligence chip, called Gaudi 3, as chipmakers rush to produce semiconductors that can train and deploy big AI models, such as the one underpinning OpenAI's ChatGPT. AMD is also looking to expand and sell more AI chips for servers. Intel is teaming up with other chip and software giants, including Google , Qualcomm and Arm to build open software that isn't proprietary and could enable software companies to easily switch chip providers.

Persons: Abu, Gaudi, Das Kamhout, Sachin Katti, Patrick Gelsinger Organizations: Nvidia, Intel, Gaudi, Dell, HP, AMD, Microsoft, Google, Qualcomm Locations: Abu Dhabi, Ohio

☆ The Taiwan earthquake is a stark reminder of the risks to the region’s chipmaking industry
▼ + stars: | 2024-04-03 | by ( Clare Duffy | ) edition.cnn.com time to read: +6 min

Chipmakers and governments, including the US government, have in recent years invested billions in efforts to diversify chip production, but many experts worry that process is not happening fast enough. TSMC produces an estimated 90% of the world’s most advanced semiconductor chips, which power countless devices people rely on daily. Still, even an hours-long shutdown of certain chip production could take weeks to recover from. The race to diversify chipmakingWednesday’s earthquake will likely only add pressure to efforts underway for years to grow chipmaking capacity outside of Taiwan. Experts say it’s a sign that the diversification of the chip supply chain is not moving quickly enough to account for the risks of remaining concentrated in Taiwan.

Persons: chipmaker, TSMC, ” TSMC, ”, David Bader, ” Bader, facilites, wasn’t, Joe Unsworth, Foxconn —, Angelo Zino, Joe Biden Organizations: New, New York CNN, Taiwan Semiconductor Manufacturing Company, Apple, Qualcomm, Nvidia, AMD, Institute for Data Science, New Jersey Institute of Technology, Barclays, Tech, United Microelectronics Corporation, Micron Locations: New York, Taiwan, chipmaking, China, United, Japan, Germany, United States, Arizona

☆ Another analyst is saying 'all AI roads' lead to this under-the-radar global chip stock
▼ + stars: | 2024-04-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The boom in demand for artificial intelligence leads back to this global chip supplier, according to Susquehanna. Analyst Mehdi Hosseini upped his estimates on the semiconductor manufacturer Taiwan Semiconductor Manufacturing as wafer average selling prices improve, saying that "all AI roads originate from TSM." The firm joins JPMorgan in asserting that "all AI roads" lead to the global chipmaker. Taiwan Semiconductor is coming off a strong start to 2024. Taiwan Semiconductor, a supplier to chip giants such as Nvidia , Advanced Micro Devices and Qualcomm , could rally another 27% based on the firm's $180 price target.

Persons: Mehdi Hosseini, TSM Organizations: Taiwan Semiconductor Manufacturing, Taiwan Semiconductor, JPMorgan, Susquehanna, Semiconductor, Nvidia, Devices, Qualcomm Locations: Susquehanna, TSM, U.S

☆ 'The frenzy continues’: Researcher names 3 new signs of an AI bubble amid Nvidia hype
▼ + stars: | 2024-03-29 | by ( Katrina Bishop | ) www.cnbc.com time to read: +3 min

He outlined three recent events that give him cause for concern: Cohere valuation The first is that generative AI company Cohere is reportedly on track to raise funds at a $5 billion valuation. "Another red flag was Microsoft's ability to hire the CEO and 70 staff from the AI start-up Inflection AI," he said. Amazon investment Emphasizing the "FOMO effect" around AI, Windsor noted that even tech giant Amazon isn't immune. Amazon's largest-ever investment will see it continue to pump money into the generative AI start-up, which has a chatbot Claude that competes with OpenAI 's ChatGPT. He added that he already owns chip stock Qualcomm , which is in a "very good position to benefit as generative AI starts to be implemented at the edge."

Persons: Richard Windsor, Cohere, Windsor, Martin Kon, Claude, OpenAI, Stocks, —, Kate Rooney Organizations: Radio Free Mobile, Mar, CNBC, Nvidia, Google, Windsor, Nomura Securities, Microsoft, Qualcomm Locations: Amazon's

☆ This semiconductor ETF is headed for its best quarterly gain in a year. Here are the winners
▼ + stars: | 2024-03-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Semiconductor stocks are off to another hot start to the year. The VanEck Semiconductor ETF (SMH) is up 28.5% in the first three months of 2024. That puts the SMH on pace for its biggest quarterly gain since the first quarter of 2023, when it jumped 30%. The stock is up more than 30% to start 2024. Shares have skyrocketed more than 39% to start 2024, helped by strong sales in high bandwidth memory necessary in AI infrastructure.

Persons: Ken Mahoney, Nvidia, Hendi, Management's Paul Meeks, Andrew Garthwaite cautioning Organizations: VanEck Semiconductor, Asset, Taiwan Semiconductor Manufacturing, Nvidia, Qualcomm, Apple, Devices, JPMorgan, PHLX Semiconductor, Intel, Micron Technology, Micron, UBS, Universal Locations: Taiwan

☆ CNBC Daily Open: A key inflation gauge in focus
▼ + stars: | 2024-03-28 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Yellen on China dumpingU.S. Treasury Secretary Janet Yellen warned that China is dumping its surplus of solar panels and EVs on global markets, distorting market prices. This signals Beijing's latest efforts to boost foreign investment in China as relations with the U.S remain fraught. Investors anxious over a market decline should hedge their positions to limit risk in financial assets, according to fund managers.

Persons: Janet Yellen, Yellen, Xi Jinping, Stephen Schwarzman, Cristiano Amon, Mark Carney, Francis Scott Key, David Neuhauser Organizations: CNBC, Dow, Treasury, U.S, Blackstone, Qualcomm, Bloomberg, Francis Scott Key Bridge, Livermore Partners Locations: Yellen, China, U.S, Baltimore, Port of Baltimore

☆ Xi Jinping is caught in a bind: How do I undermine US power while also courting its investors?
▼ + stars: | 2024-03-28 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

But Xi is also trying to dent US global power on several fronts. AdvertisementChina's President Xi Jinping presented an uncharacteristically affable image Wednesday, smiling broadly for US business leaders at a meeting in Beijing. The Chinese leader sought to assure investors including Cristiano Amon of Qualcomm and Stephen Schwarzman of the Blackstone Group that the downturn in China's economy, its biggest contraction in 15 years, would be over soon. AdvertisementOn the one hand, Xi is seeking to implement China's long-term strategy of displacing the US as the world's pre-eminent power. China's economy, after decades of growth, is experiencing its most serious problems in decades.

Persons: Xi Jinping, He's, Xi, —, Cristiano Amon, Stephen Schwarzman, Jonathan Ward, Ali Wyne, Joe Biden, Robert Daly, Wilson Organizations: Service, Qualcomm, Blackstone Group, United, Communist Party, US Navy, Taiwan, Wilson Center, CBS, International Crisis Group, Institute, NPR, US Locations: Beijing, China, Xinhua, United States, Ukraine, Russia, Taiwan, Iran, North Korea

☆ China's Xi tells U.S. CEOs that bilateral relations can have a 'brighter future'
▼ + stars: | 2024-03-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

China's President Xi Jinping speaks at an event held by the National Committee on US-China Relations and the US-China Business Council on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Leaders' Week in San Francisco, California, on November 15, 2023. Carlos Barria | Afp | Getty ImagesBEIJING — Chinese President Xi Jinping told U.S. executives on Wednesday that bilateral relations can improve, and pledged that Beijing would keep working to improve the business environment. In the Chinese side's readout, Xi described China's economy as "sound and sustainable," and pushed back on some forecasts that the country would soon "peak." The National Committee on U.S.-China Relations did not provide a statement. "I commend [Xi's] personal engagement in the U.S.-China relationship, including a meeting like this.

Persons: Xi Jinping, Carlos Barria, Stephen Schwarzman, Cristiano Amon, Evan G, Greenberg, Harvard's John F, Dean Graham Allison, Craig Allen, Xi, Wang Yi, Zheng Shanjie, Commerce Wang Wentao, Rajesh Subramaniam, Chubb Organizations: National Committee, China Relations, China Business Council, Economic Cooperation, APEC, Afp, Getty, U.S, China -, Blackstone, Qualcomm, Kennedy School of Government, U.S ., China Business, Authorities, National Development, Commerce, FedEx, CNBC, Committee Locations: Asia, San Francisco , California, BEIJING, Beijing, China, United States, U.S

☆ China's Xi meets U.S. executives as businesses navigate bilateral tensions
▼ + stars: | 2024-03-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +8 min

The forum this year coincided with other efforts to attract foreign business. However, a combination of geopolitical tensions, regulatory uncertainty and slower economic growth have made it more challenging for foreign businesses in China. ... foreign companies share the same lack of confidence and worries about an uncertain future that is felt amongst much of China's domestic industry. Looking for economic clarityFor businesses considering China investment plans, the country's near-term growth outlook is another factor. He emphasized China's large market, industrial supply chain, and pointed out how China has worked on issues such as data exports and equal market treatment for foreign businesses.

Persons: Tim Cook, Management Dean Bai Chong, Xi Jinping, Stephen Schwarzman, Cristiano Amon, Mark Carney, Rajesh Subramaniam, Joe Biden, Carlos Gutierrez, Sean Stein, Gutierrez, Biden, Scott Kennedy, Peter Bachmann, Bachmann, Kennedy, Stephen S, Roach, Yale Law School's Paul Tsai, he's, China's, Han Zheng, Amin H, Nasser Organizations: Apple, China Development Forum, Tsinghua University School of Economics, Management, China News Service, Getty, U.S . Blackstone, Qualcomm, Bloomberg, FedEx, China, Cyberspace Administration, U.S, American Chamber of Commerce, of Commerce, Scott, Scott Kennedy Center for Strategic, Studies, China Centre, University of Applied Sciences, Arts Northwestern Switzerland, Center for Strategic, International Studies, Yale Law, Yale Law School's Paul Tsai China, Communist Party, Invest, CNBC, Aramco Locations: China, BEIJING, U.S, San Francisco, Beijing, Shanghai, Washington ,, Saudi

☆ Nvidia is about to face its first major threat as rivals target its special sauce
▼ + stars: | 2024-03-27 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +1 min

Nvidia has felt invincible in the generative AI era. Google, Intel and Qualcomm are teaming up to create a rival to Nvidia's secret sauce, Reuters reported. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: —, Jensen Huang, It's, Blackwell, Mark Zuckerberg, Sam Altman fiending Organizations: Nvidia, Google, Intel, Qualcomm, Reuters, Service, Business Locations: San Jose

☆ China’s Xi meets American CEOs to boost confidence in world’s second largest economy
▼ + stars: | 2024-03-27 | by ( Laura He | Wayne Chang | ) edition.cnn.com time to read: +3 min

Foreign direct investment in China has slumped in recent months as a combination of slower growth, regulatory crackdowns, onerous national security legislation and questions about the country’s long-term growth prospects have shaken confidence in the world’s second biggest economy. But global investors remain wary of China’s rising scrutiny of Western companies as well as a structural slowdown. In the first two months of 2024, foreign direct investment (FDI) into the country shrank nearly 20% from a year ago, underscoring weak confidence among global executives. Another gauge of FDI — direct investment liabilities — showed a 82% slump in 2023, according to figures released by the State Administration of Foreign Exchange. China has set this year’s economic growth target at around 5%, the same as last year’s.

Persons: Xi Jinping, Cristiano Amon, Raj Subramaniam, Stephen Schwarzman Organizations: Taipei CNN, Qualcomm, FedEx, Blackstone, of, International Monetary Fund, World Bank, China Development, Commerce Ministry, State Administration of Foreign Exchange, American Chamber of Commerce Locations: China, Hong Kong, Taipei, Beijing, United States

☆ Op-ed: The effusive China tour is a failing playbook for Apple, Tim Cook, and every CEO
▼ + stars: | 2024-03-27 | by ( Dewardric L. Mcneal | ) www.cnbc.com time to read: +8 min

This ritual, epitomized by high-profile engagements — such as Apple CEO Tim Cook's effusive overtures and statements of commitments to China — signals that American corporate titans think the strategy can still work. Tim Cook's narrative of China as "critical" to Apple , coupled with his admiration for the country's advanced manufacturing capabilities, embodies the ethos of this engagement playbook. Apple's Chief Executive Officer Tim Cook attends the China Development Forum in Beijing on March 24, 2024. It's not that the Apple CEO is doing anything wrong. Chinese Apple superfans jostled to enter the smartphone maker's newest store as it opened on March 21 night.

Persons: Tim Cook's, Tim Cook, Pedro Pardo, Jim McNerney, Xi Jinping's, Mark Zuckerberg, Deirdre O'Brien, Strstr, Xi, Xi Jinping, Li Qiang Organizations: Apple, American, titans, U.S, Apple's, China Development Forum, AFP, Getty, Boeing, Airbus, Volkswagen, Qualcomm, Google, Facebook, Huawei, Afp Locations: China, Beijing, Weibo, Shanghai

☆ JPMorgan says 'all roads' of the AI boom lead to this global chip manufacturer that's trading at a 50% discount
▼ + stars: | 2024-03-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Investors looking to bet on the artificial intelligence boom may want to take a look at Taiwan Semiconductor Manufacturing , according to JPMorgan. Analyst Gokul Hariharan reiterated his overweight rating on the semiconductor maker, a supplier to chip majors such as Nvidia , Advanced Micro Devices and Qualcomm , saying that "all roads in AI semis lead" to the company. Within the next three to four years, Hariharan expects Taiwan Semiconductor to maintain its greater-than 90% market share of AI-connected processor silicon. By 2026, he forecasts the company's revenues can hit $119 billion, driven by robust growth in high-performance computing as AI training and inference demand grows. A solid setup for the company's 3 nanometer process technology for chipmakers such as Nvidia should also benefit revenues.

Persons: Gokul Hariharan, Hariharan Organizations: Taiwan Semiconductor Manufacturing, JPMorgan, Nvidia, Devices, Qualcomm, Taiwan Semiconductor, SOX, AMD, Broadcom, Marvell, Hariharan Locations: Taiwan

☆ 'We need someone to fix Boeing.' Here's who could replace Calhoun as the troubled plane maker's CEO
▼ + stars: | 2024-03-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Calhoun told CNBC on Monday that the decision to retire was "100%" his own and that he would be involved in finding his successor. "We need someone to fix Boeing," one major airline executive, who wasn't authorized to speak to the media, told CNBC after Boeing announced the management shake-up Monday. "I want somebody who knows how to handle a big, long-cycled business like ours," Calhoun told CNBC in an interview Monday while announcing his departure. Four-year Boeing board member Steve Mollenkopf, an ex-Qualcomm CEO who will take over as independent chairman of the board, will lead the search.

Persons: Dave Calhoun, Max, Larry Kellner, Stan Deal, Calhoun, wasn't, John Plueger, It's, Steve Mollenkopf, Cowen, Cai von Rumohr, here's Organizations: Boeing, Max, Boeing Factory, Monday, CNBC, Air Force One, Alaska Airlines, Air Lease, Airbus, Financial, Qualcomm Locations: Renton , Washington, China

☆ Boeing CEO Dave Calhoun to step down in wake of ongoing safety problems
▼ + stars: | 2024-03-25 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —Boeing CEO Dave Calhoun said Monday he intends to leave the beleaguered company by the end of the year in a major shakeup of the company’s leadership. The company also announced that Stan Deal, CEO of Boeing Commercial Airplanes, is retiring. The problems have led to multiple groundings for safety issues and more than $31 billion in cumulative losses. But it comes in the face of widespread criticism of the company by CEOs of many of the world’s major airlines Boeing depends upon to buy its planes. Any Boeing customer shifting to Airbus could find itself waiting until 2030 or beyond to get its planes delivered.

Persons: Dave Calhoun, Larry Kellner, Steve Mollenkopf, Stan Deal, Stephanie Pope, Max, Calhoun, ”, Let’s, “ I’ve, Boeing won’t, Michael O’Leary, O’Leary, Scott Kirby, Ben Minicucci, Dennis Muilenburg, Muilenburg, Calhoun’s Organizations: New, New York CNN, Boeing, Qualcomm, Alaska Airlines, Max, CNBC, Alaska Air, ” Airlines, Ryanair, Europe’s, CNN, ”, ” United Airlines, United, Airbus, Virgin America Locations: New York, Alaska, ” United

Boeing CEO David Calhoun will step down from the embattled plane maker at the end of the year as part of a broad management shakeup Monday after a series of mishaps at one of America's iconic manufacturers. Stephanie Pope, the company's chief operating officer for less than three months, has taken over leadership of the key division. Boeing has been under intense pressure since early January, when a panel blew off a brand-new Alaska Airlines 737 Max. Airline executives have expressed their frustration with the company, and even minor incidents involving Boeing jets have attracted extra attention. Pope, 51, was promoted to Boeing chief operating officer only in January.

Persons: David Calhoun, Stan Deal, Stephanie Pope, Lawrence Kellner, Calhoun, ”, Max, “, ” Calhoun, Dennis Muilenburg, Brian West, Steven Mollenkopf, Jason Gursky, Pope, Gursky, Richard Aboulafia, Patrick Shanahan —, Trump, AeroSystems, ” Cai von Rumohr, Cowen, Michael O’Leary, he’s, Michelle Chapman Organizations: Qualcomm, Boeing, Alaska Airlines, Max, Federal Aviation Administration, FAA, Citi, U.S, Defense, Irish, Ryanair, ”, Boeing Co, AP Locations: Seattle, Indonesia, Ethiopia, Arlington , Virginia, Alaska, Calhoun, New York

☆ Boeing C.E.O. to Step Down in Major Reshuffle at Embattled Plane Maker
▼ + stars: | 2024-03-25 | by ( Sydney Ember | Niraj Chokshi | ) www.nytimes.com time to read: +1 min

Boeing announced Monday that its chief executive, David Calhoun, would step down at the end of 2024 as part of a broad management shake-up, as the aircraft maker grapples with its most significant safety crisis in years. Boeing also announced that its chairman, Larry Kellner, would not stand for re-election. The board elected Steve Mollenkopf, an electrical engineer by training and the former chief executive of Qualcomm, as its new chairman. In that role, he will lead the process of choosing Boeing’s next chief executive. The management overhaul comes less than three months after a panel, known as a door plug, blew off a Boeing Max 9 during an Alaska Airlines flight on Jan. 5.

Persons: David Calhoun, Stan Deal, Stephanie Pope, Larry Kellner, Steve Mollenkopf, Boeing’s Organizations: Boeing, Qualcomm, Boeing Max, Alaska Airlines

☆ Read the full memo Boeing CEO sent to staff announcing he is stepping down
▼ + stars: | 2024-03-25 | by ( Grace Dean | Taylor Rains | ) www.businessinsider.com time to read: +7 min

Boeing CEO Dave Calhoun is stepping down. Calhoun was appointed CEO of Boeing after the planemaker's former CEO, Dennis Muilenburg, stepped down in December 2019 following two crashes of another Max variant, the Max 8. Calhoun also said that Boeing Chair Larry Kellner wouldn't be standing for reelection, with Steve Mollenkopf elected by the board as his replacement. Calhoun added that Stan Deal, the CEO of Boeing Commercial Airplanes, was retiring and would be replaced by Stephanie Pope, effective immediately. I also want to thank Stephanie for taking on this critical role.

Persons: Dave Calhoun, Calhoun, Dennis Muilenburg, Max, Calhoun didn't, Larry Kellner wouldn't, Steve Mollenkopf, Stan Deal, Stephanie Pope, He'd, Read, Larry Kellner, Larry, Steve, Stan, Stephanie, Dave Organizations: Boeing, Alaska Airlines, Max, Federal Aviation Administration, Qualcomm, Boeing Commercial Airplanes, BCA

☆ India wants to be a global chip powerhouse in 5 years
▼ + stars: | 2024-03-18 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

India wants to be among the world's top five semiconductor producers in the next five years, said Ashwini Vaishnaw, minister of electronics and information technology, railways and communications. The chip industry "is a very complex market, and global value chains and global supply chains are extremely complex in the current context," Vaishnaw said on CNBC's Street Signs Asia on Friday. As of December, Taiwan holds about 46% of global semiconductor foundry capacity, followed by China (26%), South Korea (12%), the U.S. (6%) and Japan (2%), according to market intelligence firm TrendForce. I call it 'trust shoring' because there is a global trust in India," Vaishnaw said. "A lot of our chips are designed in India, and that presence in India is also creating opportunities for a number of Indian companies."

Persons: Ashwini Vaishnaw, Vaishnaw, Narendra Modi, Frank Huang, Rajeev Chandrasekhar Organizations: Qualcomm, CNBC, Tata Electronics, Powerchip Semiconductor Manufacturing Corp, PSMC, Economic Times Locations: India, Taiwan, China, South Korea, U.S, Japan, Chennai

☆ A TikTok ban could be terrible news for Apple and Tesla
▼ + stars: | 2024-03-15 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +4 min

China could retaliate against Apple and Tesla via brand damage campaigns or stifling local ops. AdvertisementA potential TikTok ban in the US could spell trouble for Apple, Tesla, and other American companies operating in China. And on Wednesday, China's foreign ministry warned TikTok ban attempts would "eventually backfire on the US." Deepwater Asset Management managing partner Gene Munster told Business Insider he believes a TikTok ban has a 25% chance of materializing. In a world where there is a TikTok ban, Munster said, "Chinese leadership could expand its anti-iPhone campaign beyond the government."

Persons: TikTok, —, Gene, Munster, Dan Ives, Tesla Organizations: Apple, Service, Asset Management, Gene Munster, Business, Wedbush Securities, BI, Wynn Resorts, Las Vegas Sands, Texas Instruments, IPG Photonics, Financial Times, Huawei Locations: China, United States, Las Vegas, Qualcomm, Munster, —

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