Amid the escalating strategic rivalry between the United States and China, South Korean semiconductor giants are rapidly shifting sales to the U.S. market while reducing dependence on China. Recent business reports released by Samsung Electronics and SK Hynix showed their sales in China dropped 3.77 percent and 5.39 percent respectively in the third quarter (Q3)…
South Korean Chipmakers Make Rapid Gains in US Market While Reducing Reliance on China
November 29, 2022
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Chipmakers Post Weak Results, Reduce Spending Amid Recession Fears
October 7, 2022
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Multiple chip manufacturers are posting disappointing financial results and cutting down on spending—developments that are negatively affecting the share prices of these firms. AMD, for example, recently announced its preliminary third-quarter sales, missing projections by more than $1 billion. The third-quarter revenue is expected to be $5.6 billion, below the company’s forecast of $6.7 billion….
Chipmakers Drag Wall Street Lower After Micron’s Warning
Wall Street’s main indexes slipped at the open on Tuesday as a dismal forecast from Micron Technology dragged chip stocks lower, while investors remained cautious ahead of inflation data that will feed into the U.S. Federal Reserve’s rate-hike plans. The Dow Jones Industrial Average fell 25.18 points, or 0.08 percent, at the open to 32,807.36….
Big Tech, Chipmakers Power Nasdaq as Omicron Worries Subside
December 7, 2021
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The Nasdaq rallied more than 2 percent on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public. Investors cheered the chip giant’s decision to list Mobileye in the United States in mid-2022, sending its shares 5.0 percent higher. The…
Big Tech, Chipmakers Power S&P 500, Nasdaq to Record Highs
November 4, 2021
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The S&P 500 and the Nasdaq hit record highs on Thursday on stellar earnings reports, with investors looking past the Federal Reserve’s asset tapering plan as borrowing costs remain low. The Dow slipped from an all-time closing high hit on Wednesday, dragged down by big banks JPMorgan Chase & Co. and Goldman Sachs Group which…
Hyundai Motor Aims to Develop Chips, Cut Reliance on Chipmakers
SAN FRANCISCO—Hyundai Motor’s global operating officer said on Wednesday the automaker wants to develop its own chips to reduce reliance on chipmakers. A global shortage of semiconductors, triggered partly by surging demand for laptops and other electronic products during the pandemic, has shuttered some auto production lines globally this year. Hyundai temporarily suspended some factories,…
Banks, Chipmakers Drag European Stocks Lower on Growth Worries
October 4, 2021
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European stocks struggled on Monday after their worst weekly showing since February, hit by a growing number of risks including signs of inflation, elevated bond yields, and developer China Evergrande’s financial troubles. The pan-European STOXX 600 index fell 0.5 percent, holding near a two-month low hit in last week’s selloff. Banks, chipmakers, and luxury stocks…
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