A Goldman Sachs analyst said he expects the new iPad and Mac products launched this week to help Apple achieve its fiscal second-quarter outlook of low- to mid-single-digit growth.
Intel shares extended their two-day slide on Wednesday after former President Donald Trump called for the repeal of the Chips Act during a joint session of Congress.
To sidestep U.S. controls, Chinese resellers are using entities registered outside of China to purchase Nvidia-powered servers from firms in Malaysia, Vietnam, and Taiwan.
Stocks fell broadly on Monday to start the month of March with all three major indices red in midday trading. Investors digested a decline in February's ISM Manufacturing PMI data which fell to 50.3%, down from 50.9% in January.
The company raised its “Future Ready” savings target from $1.6 billion to $1.9 billion by the end of the fiscal year 2025 as it looks to cut 1,000-2,000 jobs.
There are signs of trouble ahead, like economic slowdown and resurgent inflation, but also signs of strength, like healthy demand - at least in some places.
The chipmaker reported fourth-quarter revenue of $39.3 billion, up 78% year over year, with data center sales driving much of the growth. Full-year revenue topped $130 billion, more than doubling from the prior year.
Bloomberg, citing unnamed sources, said Italian officials believe Jean-Marc Chery has failed to navigate the company through mounting industry challenges.
ON Semiconductor announced a company-wide restructuring plan that includes 2,400 job cuts as it seeks to align costs with business trends and offset revenue headwinds.
