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☆ After a rough third quarter, here's what to expect from technology stocks into the end of 2023
▼ + stars: | 2023-10-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +8 min

2023's surge in technology stocks fizzled in September as rising rates put a heavy dent in the artificial intelligence-fueled rally . Over the next few weeks, Deepwater Asset Management's Gene Munster is keeping an eye on September's consumer price index and nonfarm payrolls report ahead of the start of big technology earnings later in the month. "The good news is that this should right itself once the September quarter earnings come up." Sean Sun, a portfolio manager at Thornburg Investment Management, likened the earnings season to a "gut check" on AI beneficiaries. But these drawdowns could offer opportunities for long-term investors to snatch up technology bets at bargain prices, said Nancy Tengler.

Persons: what's, behemoths, Street's, Gene Munster, Erika Klauer, Sean Sun, Paul Meeks, Nancy Tengler, Meeks, Klauer Organizations: Nasdaq, Reserve, Enphase, Lucid, ASML, Netflix, Apple, Microsoft, Devices, Nvidia, Tech, Thornburg Investment Management, Laffer, Investments, ServiceNow, Adobe, Broadcom, Oracle, Meta, Jennison, AMD

☆ Intel hails 'landmark' as high-volume EUV production begins at Irish plant
▼ + stars: | 2023-09-29 | by ( Padraic Halpin | Max A. Cherney | ) www.reuters.com time to read: +2 min

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. The effort in Ireland is Intel’s first attempt at high-volume manufacturing using EUV technology. Beyond its existing facilities in Ireland, Intel plans to build a big chip complex in Germany and semiconductor assembly and test facility in Poland. The three facilities will help create a first-of-its-kind end-to-end advanced semiconductor manufacturing value chain in Europe, Intel said. The new factory will double Intel’s manufacturing space in Ireland, where it is one of the country’s largest multinational employers with 4,900 people, around half its European workforce.

Persons: Dado Ruvic, Intel’s, ” Ann Kelleher Organizations: DUBLIN, Reuters, Intel, REUTERS, U.S ., Taiwan Semiconductor Manufacturing, PCs, U.S Locations: Ireland, U.S, Europe, Leixlip, Dublin, Portland, Hillsboro , Oregon, Arizona, Germany, Poland

☆ Chipmaker ASML to set up base in Japan's Hokkaido to support new Rapidus plant
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

An ASML spokesperson said the company will have a customer support team for Rapidus, but could not immediately confirm staff numbers. Nikkei, which first reported the news, said that 50 ASML engineers will install an ASML "EUV" machine on a prototype line in Chitose City, Hokkaido. "We always have engineers that support our systems in our customers' fabs," the ASML spokesperson said, referring to customers' factories. TSMC, Samsung, Intel and memory chip specialists SK Hynix and Micron currently manufacture using ASML's EUV tools. The Nikkei report said ASML is also expanding its existing support base for TSMC, which is building a major plant in Kumamoto in Japan.

Persons: Dado Ruvic, ASML, Rocky Swift, Toby Sterling, Louise Heavens, Jane Merriman Organizations: REUTERS, Rights, Rapidus, Nikkei, Samsung, Intel, SK Hynix, Micron, Thomson Locations: Hokkaido, Chitose City, Kumamoto, Japan

☆ A fund manager at a $250 billion firm that aims to capture megatrends shares the top 10 stocks pulled from its 12 strategies
▼ + stars: | 2023-09-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Gertjan van der Geer, a senior investment manager at the firm, describes megatrends as large social, economic, political, environmental, or technological transformations that significantly impact the economy, society, cultures, or businesses. Additionally, five criteria must be met before Pictet creates a thematic fund, van der Geer said. When it comes down to picking the right basket of stocks, van der Geer noted that a company's fundamentals are key. And there are a few things that we are looking for in these companies," van der Geer said. And one of the key ways to improve our CO2 footprint globally is to reduce the unnecessary pollution," van der Geer said.

Persons: they're, Gertjan van der Geer, Pictet, van der Geer, It's, Van der Geer Organizations: Microsoft, Apple, Pictet, Management, Premium Brands, Security, Health, Schneider, Clean Energy, Nordisk, Asml, Roper Technologies, Kla Corp, Republic Services Locations: megatrends

☆ 'Mispriced' stocks like this solar name are too attractive to ignore, Bank of America says
▼ + stars: | 2023-09-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Earlier this week, however, the bank lifted its rating to buy from neutral, saying ESAB is too attractive to ignore. "In our view, ESAB is a mispriced asset and the discount to peers is likely to narrow with the upcoming [December] Investor Day as a catalyst," El-Sabbahy wrote. First Solar Analyst Julien Dumoulin-Smith is getting increasingly bullish on shares of the solar company. ESAB "ESAB is executing better than expected (leverage falling, margin expanding, growth outperforming) and we have a renewed appreciation of its portfolio. In our view, ESAB is a mispriced asset and the discount to peers is likely to narrow with the upcoming [December] Investor Day as a catalyst."

Persons: ESAB, Sherif El, Sabbahy, Julien Dumoulin, Smith, BofA, FSLR, Didier Scemama, ASML, Scemama, mgmt, RMD Organizations: of America, CNBC Locations: Swedish, GLP

☆ Morgan Stanley says these 6 global stocks will benefit from a 'monumental shift' in the chip industry
▼ + stars: | 2023-09-22 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

A "monumental shift" is underway in the semiconductor industry — and a raft of stocks are set to benefit, according to analysts at Morgan Stanley . "The transition to 3D 'gate-all-around' architecture marks a monumental shift for leading-edge logic chip architectures," the analysts said. Though industry players expect that initial gains will be "relatively subdued," Morgan Stanley is optimistic that the shift will create a "roadmap into the next decade." Stock picks Here are some of the stocks Morgan Stanley expects will benefit: Lam Research is one of the stocks the bank rated overweight. Morgan Stanley analysts agreed with the company's statement that "gate-all-around is good for the industry, [so] good for ASML."

Persons: Morgan Stanley, TSMC, it's, — CNBC's Michael Bloom Organizations: ramping, Materials, ASM, ASML, Intel, Samsung, GAA Locations: U.S, Swiss

The Shenzhen-based company has not explained exactly how seven-nanometer chips ended up in the new Mate 60 Pro smartphone series. Analysts estimate deliveries of the Mate 60 Pro could top 5 million this year. Follow @KatrinaHamlin on XCONTEXT NEWSHuawei started preselling its Mate 60 Pro+ smartphone alongside a new foldable phone in September. The Chinese company started selling its high-end smartphones Mate 60 and Mate 60 Pro at the end of August. The Huawei Mate 60 Pro contained a 7-nanometer processor that was made in China by Semiconductor Manufacturing International Corp, according to analysts at TechInsights.

Persons: TSMC, TechInsights, Una Galani, Thomas Shum Organizations: Reuters, TechInsights, Kirin, Manufacturing International Corp, HK, Washington, SK Hynix, Huawei, TSMC, Semiconductor Manufacturing International Corp, SK, South, Bloomberg, Thomson Locations: HONG KONG, China, Shenzhen, Beijing

☆ Huawei's chip breakthrough poses new threat to Apple in China — and questions for Washington
▼ + stars: | 2023-09-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +7 min

There is no Chinese company that can do what TSMC does. Along with Huawei, SMIC is on a U.S. trade blacklist called the Entity List. The 7nm process is seen as highly-advanced in the world of semiconductors, even though it is not the latest technology. While SMIC is able to create 7nm chips, it's unclear how efficient, profitable and sustainable that is on a bigger scale. While the yield of SMIC's 7nm process for Huawei chips is not known, it is "probably low," Kotasthane said.

Persons: Aly Song, Donald Trump, shockwaves, SMIC, Dan Hutcheson, Kotasthane Organizations: Apple, Reuters Apple, Huawei, China's, Chinese Communist Party, U.S ., Samsung, Taiwan Semiconductor Manufacturing Co, SMIC, 5G, CNBC, Takshashila, The U.S . Department of Commerce, Street, China's Ministry of Foreign Affairs, U.S Locations: Shanghai, China, U.S, Washington, . U.S, The

The instruction by TSMC, which is grappling with delays at its $40 billion chip factory in Arizona, is aimed at controlling costs and reflects the company's growing caution about the outlook for demand, the sources said. Suppliers currently expect the delay to be short-term, the sources said, declining to be named as the information is not public. Companies affected by the instruction to delay include Dutch firm ASML (ASML.AS), which makes lithography equipment essential for high-end chipmaking, one of the sources said. ASM International (ASMI.AS), a smaller equipment firm that is also a supplier to TSMC, fell 4.2% with BE Semiconductor (BESI.AS), a packaging equipment firm, down 2.4%. CHIP CYCLE WORRIESThe Taiwanese chip giant is not alone in worrying a bounce back in demand may take longer than expected.

Persons: Dado Ruvic, TSMC, chipmaker, C.C, Wei, Peter Wennink, We've, Wennink, they're, Mark Liu, Sam Nussey, Fanny Potkin, Toby Sterling, Miyoung Kim, Stephen Coates Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Suppliers, Reuters, ASM, BE Semiconductor, Apple, Media, Huawei, Analysts, chipmaker Semiconductor Manufacturing International Corp, HK, Thomson Locations: TOKYO, SINGAPORE, AMSTERDAM, Arizona, China, Taiwan, Beijing, Washington, Tokyo, Singapore, Amsterdam

☆ Stocks making the biggest moves midday: General Motors, Stellantis, Planet Fitness, Adobe and more
▼ + stars: | 2023-09-15 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Nucor — The steelmaker fell 6.1% after offering worse-than-expected guidance for third-quarter earnings, with the company pointing to pricing and volume challenges. Core & Main — The infrastructure stock retreated 4.1% a day after it announced a secondary stock offering. The bank said Apellis has a favorable risk/reward ahead of third-quarter earnings. The Wall Street firm said the resumption of loan repayments introduce bookings risk to food delivery. The Wall Street firm said its pessimistic outlook was changing despite recent underperformance in the reinsurance space.

Persons: Stellantis, Chris Rondeau, Rondeau, Craig Benson, Nucor, Raymond James, Needham, Charles Shi, Lam, Goldman Sachs, Apellis, MoffettNathanson, Estée Lauder, Goldman, Yun Li, Jesse Pound, Samantha Subin, Pia Singh, Brian Evans, Lisa Kailai Han Organizations: UAW, General Motors Wentzville, General Motors, Ford, United Auto Workers began, Workers, CNBC, LSEG, PTC Therapeutics, Medicines Agency's, Medicinal Products, Arm, Investment, Bloomberg News, Apple, Dexcom, ASML Holding, Lam Research, Taiwan Semiconductor, Adobe, Bank of America, JPMorgan, Apellis Pharmaceuticals, Waste Systems Locations: Wentzville , Missouri, New Hampshire, Wells, underperform

The difficulty of this achievement also shows the resilience of the country’s chip technological ability," TechInsights analyst Dan Hutcheson said. EUV refers to extreme ultraviolet lithography and is used to make 7 nm or more advanced chips. LIMITED ACHIEVEMENTThe most advanced chip SMIC had previously been known for making was 14nm, as it was barred by Washington in late 2020 from obtaining an EUV machine from Dutch firm ASML (ASML.AS). But TechInsights last year said it believed SMIC had managed to produce 7 nm chips by tweaking simpler DUV machines it could still purchase freely from ASML. Jefferies analysts reckon Huawei is preparing to ship ten million units of the Mate 60 Pro, though it may struggle to support that quantity with China-made 7 nm chips.

Persons: Gina Raimondo's, chipmaker SMIC, Dan Hutcheson, EUV, Jefferies, TechInsights, SMIC, Tilly Zhang, Dragonomics, Zhang, Doug Fuller, David Kirton, Max Cherney, Brenda Goh, Miyoung Kim, Nick Zieminski Organizations: FRANCISCO, Huawei Technologies, U.S, Huawei, U.S . Commerce, Kirin, HK, U.S . Commerce Department's, of Industry, Security, China, U.S . Department of Commerce, China's State Council, Reuters, Copenhagen Business School, Thomson Locations: SHENZHEN, China, California, Washington, Ottawa, U.S, China's, Netherlands

☆ ASML to ship first pilot tool in its next product line in 2023 -CEO
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Piroschka van de Wouw/File photo Acquire Licensing RightsAMSTERDAM, Sept 5 (Reuters) - ASML (ASML.AS) will ship the first pilot tool in its next product line this year as planned, the semiconductor equipment maker's CEO Peter Wennink said, despite some supplier hold-ups. Under pressure from the United States, the Dutch government does not grant ASML licences to export EUV tools to Chinese chipmakers. Like in a camera, the High NA, or high numerical aperture tool, will gather light from a wider angle for up to 70% better resolution, although the ASML tool uses a system of mirrors rather than a lens. Separately, Wennink confirmed that ASML will have more sales in dollar terms from its previous generation "DUV" machines than EUV machines in 2023. ASML is forecasting 30% sales growth this year due in part to strong demand from Chinese customers for the older machines.

Persons: de, Peter Wennink, Wennink, Toby Sterling, Alexander Smith Organizations: REUTERS, Rights, NA, Reuters, Intel, Samsung, SK Hynix, Micron, Thomson Locations: Veldhoven, Netherlands, Eindhoven, United States, Arizona, Taiwan

☆ Shares, oil rise as sentiment towards China brightens
▼ + stars: | 2023-09-04 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

There was relief that embattled property developer Country Garden won approval from its creditors to extend payments for an onshore private bond. S&P 500 futures and Nasdaq futures rose between 0.2%-0.3%, while European stocks neared one-month highs. At least seven Fed officials are due to speak this week ahead of the next policy meeting on Sept. 19-20. In commodities, oil traded near seven-month highs on tightening supply as Saudi Arabia was widely expected to extend voluntary oil production cuts into October. Brent crude futures rose 0.2% to $88.75 a barrel, as did U.S. futures , reaching $85.73.

Persons: Ron Temple, I'm, Craig Erlam, we're, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore, Sonia Cheema, Ed Osmond Organizations: Federal Reserve, Country Garden, Lazard, Investor, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, European Central Bank, Brent, Thomson Locations: United States, Beijing, China, Europe, U.S, Saudi Arabia, Sydney

☆ Shares, commodities rise as sentiment towards China brightens
▼ + stars: | 2023-09-04 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 1.1%, having climbed 2.3% last week, thanks in large part to a 1.3% rise in Chinese blue chips (.CSI300). S&P 500 futures and Nasdaq futures rose between 0.2%-0.3%, while European stocks neared one-month highs. At least seven Fed officials are due to speak this week ahead of the next policy meeting on Sept. 19-20. In commodities, gold benefited from the diminished risk of a U.S. rate rise to stand at $1,940 an ounce . Brent crude futures rose 0.2% to $88.75 a barrel, as did U.S. futures , reaching $85.73.

Persons: Ron Temple, Jim Reid, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore, Sonia Cheema Organizations: Federal Reserve, Country Garden, Lazard, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, Deutsche Bank, European Central Bank, Brent, Thomson Locations: China, United States, Beijing, Asia, Pacific, Japan, drugmaker Novo, Canada, Australia, U.S, Saudi Arabia

"Whether this bounce will continue remains to be seen, but it has given China equities a shot in the arm." S&P 500 futures and Nasdaq futures both edged up 0.1%, while stocks in Europe opened on a strong footing. "The soft landing crowd will be pleased that the labour market is softening without much stress at the moment," Deutsche Bank strategist Jim Reid. Any path to a hard landing, outside of a shock, has to go via signs of a soft landing first," he said. Brent crude futures were steady on the day at $88.50 a barrel, while U.S. futures were also flat at $85.55.

Persons: Jim Reid, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: Federal Reserve, Country Garden, RBC Capital Markets, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, Deutsche Bank, European Central Bank, Brent, Thomson Locations: U.S, China, SYDNEY, United States, Beijing, Shanghai, Asia, Pacific, Japan, Europe, drugmaker Novo, Canada, Australia, Saudi Arabia

☆ Nasdaq futures rally as Nvidia's blowout forecast boosts AI stocks
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +3 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Nasdaq 100 e-minis were up 172 points, or 1.13% and S&P 500 e-minis were up 21.75 points, or 0.49% at 5:28 a.m. "It is clear...that AI demand is still outstripping supply," Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. "Within the tech sector, we think software and internet stocks are best positioned to ride the next wave of the technology cycle and the broadening of AI demand." Splunk Inc (SPLK.O) gained 13.9% after the data analytics software maker forecast third-quarter revenue above market estimates on expectations of AI-related spending.

Persons: Robert Galbraith, Mark Haefele, Jerome Powell, Amruta Khandekar, Shreyashi Sanyal, Savio D'Souza, Shinjini Organizations: Nvidia, REUTERS, Dow, Nasdaq, UBS Global Wealth Management, Microsoft, Palantir Technologies, Micro Devices, Marvell Technology, Semiconductor, Europe's ASM, BE Semiconductor, ASML, Investors, Federal Reserve, U.S, Treasury, Boeing, Splunk Inc, Thomson Locations: Santa Clara , California, United States, Jackson, U.S, Bengaluru

☆ UBS names the stocks that will drag the European indexes down 10% this year
▼ + stars: | 2023-08-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

UBS has identified stocks at risk of dragging one of Europe's largest equities indexes lower by 10% by the end of this year. In addition, it said the consensus estimate of 11.9x for the forward price-to-earnings ratio is "too high" — another reason for stocks to fall. UBS screened for stocks with high volatility, negative earnings revisions already underway, and valuation multiples not yet in the single digits. The above table includes top performers in 2023 so far that may be both overcrowded and expensive, like luxury and semiconductor stocks, according to UBS. UBS also screened for more defensive, less volatile stocks that score well on its framework.

Persons: Gerry Fowler, — CNBC's Michael Bloom Organizations: UBS, Stocks, ASML, Siemens, Airbus, AstraZeneca, Novartis, Unilever, Iberdrola Locations: Europe, Swiss

Samsung's 11-year-old investment in ASML has been hugely lucrative. Over the past decade, ASML shares have delivered a whopping 25% annualised return to its shareholders. It's part of Samsung's ambitious $230 billion commitment to bolster South Korea's semiconductor and high-tech sectors over the next 20 years. Moreover, Samsung's cash is probably held in overseas affiliates and subsidiaries across different jurisdictions; its annual report lists hundreds of entities abroad. That should help ease Samsung’s vexing cash bind, but the company may still need to come up with some creative funding choices.

Persons: Taiwan's TSMC, ASML, Antony Currie, Thomas Shum Organizations: Reuters, Samsung Electronics, Korean Economic, Intel, Samsung, HK, SFA Engineering, Apple, Korea Economic, Thomson Locations: HONG KONG, KS, ASML, United States, Korea

☆ Samsung Elec has more than halved its stake in ASML, filings show
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

A worker waters a flower bed next to the logo of Samsung Electronics during a media tour at Samsung Electronics' headquarters in Suwon, South Korea, June 13, 2023. REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsSEOUL, Aug 16 (Reuters) - South Korea's Samsung Electronics (005930.KS) has reduced its stake in semiconductor manufacturing equipment maker ASML (ASML.AS) by more than a half, its recent filings showed. Samsung held 2.75 million shares in the Dutch company as of end-June, the South Korean tech giant said in its semi-annual report, down from 6.3 million shares in its first quarter report. The stake that Samsung sold is worth around 2.1 billion euros ($2.29 billion) based on the latest share prices. A Samsung Elec spokesperson confirmed the stake sale but did not elaborate.

Persons: Kim Hong, Heekyong Yang, Jason Neely Organizations: Samsung Electronics, REUTERS, Rights, Samsung, South, Thomson Locations: Suwon, South Korea, Rights SEOUL

☆ EU members’ China cuddling weakens Brussels’ hand
▼ + stars: | 2023-08-16 | by ( Rebecca Christie | ) www.reuters.com time to read: +4 min

Security concerns clash with supply-chain needs and national export ambitions, while state-aid spats gum up the works. European Commission President Ursula von der Leyen will struggle to find a way forward. Von der Leyen on July 31 criticised Beijing for its geopolitical stances, but she needs to keep trade flowing. But Washington’s subsidy-heavy Inflation Reduction Act may also drive the EU closer to China because of its protectionist bent. Von der Leyen’s challenge will be to avoid a trade war or subsidies race while also being mindful of security threats.

Persons: Ursula von der Leyen, Von der Leyen, François, Germany’s, Von der, China’s, Francesco Guerrera, Oliver Taslic Organizations: Reuters, European, Eurostat, Reuters Graphics, Mercator Institute for China Studies, Volkswagen, BASF, Thomson Locations: BRUSSELS, China, European Union, Beijing, Europe, “, U.S, Brussels, France, Philippines, Germany, EU

☆ Arm IPO depends on more than Big Tech support
▼ + stars: | 2023-08-14 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/IllustrationLONDON, Aug 14 (Reuters Breakingviews) - Arm is phoning Big Tech friends for help with its initial public offering. Backing from some of the world’s largest technology companies would also provide a useful marketing boost. Investments from big tech companies risk scrutiny from antitrust regulators, who previously blocked chip specialist Nvidia from buying Arm. Reuters Graphics Reuters GraphicsArm and its owner, Japan’s SoftBank Group (9984.T), will therefore need to win over big institutional investors. That’s well below the $60 billion to $70 billion that Bloomberg recently reported Arm is aiming for.

Persons: Dado Ruvic, Rene Haas, Taiwan’s TSMC, Japan’s, Bernstein, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, Big Tech, Nvidia, Apple, Google, Microsoft, Investments, U.S . Federal Trade Commission, Reuters Graphics, Cadence Design Systems, Bloomberg, Reuters Graphics Reuters, Intel, Samsung Electronics, Japan’s SoftBank, Nasdaq, Thomson Locations: U.S, ASML, Cambridge

☆ SMIC posted a drop in second-quarter revenue on persisting weak chip demand
▼ + stars: | 2023-08-10 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

(Photo by VCG/VCG via Getty Images)Semiconductor Manufacturing International Corp. posted on Thursday a drop in second-quarter revenue against a backdrop of ongoing U.S. sanctions and a sluggish recovery in global chip demand. Net income was $402.76 million, down by 21.7% from the $514.33 million recorded in the second quarter of 2022. SMIC is China's biggest foundry, manufacturing semiconductor chips that other firms design. The Semiconductor Industry Association said that global sales of semiconductors totaled $124.5 billion during the second quarter of 2023. This represents a 4.7% increase from the first quarter but is 17.3% below the second quarter of 2022.

Persons: SMIC, Taiwan's, ASML Organizations: Semiconductor Manufacturing International Corporation, Getty, Semiconductor Manufacturing International Corp, Samsung, The Semiconductor Industry Association Locations: BEIJING, CHINA, Beijing, China, South, U.S

☆ Tech investor: ASML is in 'great shape' in a slightly difficult period
▼ + stars: | 2023-08-04 | 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 EmailTech investor: ASML is in 'great shape' in a slightly difficult periodNeil Brown, fund manager and head of equities at GIB Asset Management, believes ASML could face delays in delivering its chip making machines, but the company's lead in technology means it will not lose orders.

Persons: Neil Brown, ASML Organizations: Tech, GIB Asset Management

☆ This tech fund manager has outperformed for 10 years using a unique 'value opportunity' strategy
▼ + stars: | 2023-08-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Even in a year with a huge tech stock rally, Columbia Global Technology Growth Fund (CTYRX) stands out for its outsized gains. The final bucket in the portfolio is value opportunity names, or stocks that Narang and his team believe have valuations cheaper than the entire portfolio. He cited data from Alliance Bernstein showing that tech stocks in the most expensive and least expensive quintiles tend to outperform historically — suggesting the attraction of a balanced approach. "Returns seesaw between growth and value over various periods of time," he added, noting this year's growth-oriented tech rally after last year's drubbing. Global mandate Over the last 11 years managing the fund, Narang called its "global mandate" both the biggest challenge and opportunity for him.

Persons: Rahul Narang, Narang, we're, It's, Bernstein, Morningstar Organizations: Columbia Global Technology Growth, Nasdaq, Morningstar . Columbia Management, California Polytechnic State, JPMorgan, Microsoft, Nvidia, Broadcom, Columbia, chipmakers, NXP Semiconductors, Taiwan Semiconductor Manufacturing Co, Samsung Locations: Morningstar, India

☆ Lam Research forecasts strong quarterly revenue on AI boom
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Chip-making tools supplier Lam Research (LRCX.O) forecast quarterly revenue above Wall Street estimates, as semiconductor makers scramble to meet a surge in demand fueled by rising adoption of artificial intelligence (AI) technology. The company expects first-quarter revenue of $3.4 billion plus or minus $300 million, above expectations of $3.3 billion, according to IBES data from Refinitiv. The AI boom has also helped chipmakers cushion a post-pandemic downturn in demand for personal computers and smartphones. Lam reported fourth-quarter revenue of $3.21 billion, lower than $4.64 billion last year but above market expectations of $3.13 billion. Excluding items, the company posted a profit of $5.97 per share, compared with estimates of $5.07.

Persons: OpenAI's ChatGPT, Lam, Akash Sriram, Devika Organizations: Lam Research, Materials, Thomson Locations: Lam, Bengaluru

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