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Apple turning to Intel for chips, as Washington announced last week, has the neat logic of necessity meeting ambition. A deal - which neither company has formally announced - would pair Intel's effort to rebuild its credibility as a contract chipmaker with Apple's search for more manufacturing capacity, as its supplier TSMC struggles to meet surging AI chip demand from the likes of Nvidia. Supply constraints at the contract manufacturer have held back iPhone sales, Apple CEO Tim Cook said in April.
China's Lingyi iTech priced its Hong Kong initial public offering at HK$10.18 per share, setting the stage to raise about HK$8.3 billion ($1.06 billion), part of which it plans to use for expanding its AI capacity. The Apple supplier seeks to capitalise on rising demand linked to AI computing and advanced hardware. It wrote in its prospectus that about 37.6% of the IPO proceeds, or roughly HK$3.07 billion, would be marked for enhancing production capacity and upgrading core manufacturing processes.
Consumer group Which? permitted to lead class action on behalf of UK users over alleged anti-competitive iCloud practices.
Google parent Alphabet will be added to the Dow Jones Industrial Average beginning Monday, the index’s operator, S&P Global, said Tuesday. The company represents the fifth of the so-called Magnificent Seven growth stocks to enter the price-weighted index, which has historically been less vulnerable to tech swings than the Nasdaq Composite Index or the S&P 500. “Adding Alphabet will broaden and strengthen the DJIA’s exposure to these dynamic areas of the U.S. economy,” S&P said in a written statement.
(Bloomberg) -- It’s been a challenging year for Tesla Inc. shareholders, losing almost 10% while watching Elon Musk’s SpaceX complete the biggest initial public offering ever and immediately become the most valuable entity in the newly minted trillionaire’s collection. Most Read from BloombergSpaceX Falls for Third Day, Erases $600 Billion in Market ValueOracle Cut 21,000 Jobs in 12 Months, Says AI Replaced Some RolesKorean Stocks Tumble 10% as Extreme Volatility Rattles InvestorsStocks Fall as
LONDON, June 23 (Reuters Breakingviews) - Follow on Apple or Spotify. The SpaceX boss became the first trillionaire by defying business wisdom, upending financial standards and embracing far-right politics.
Tata Electronics said on Monday it had detected a recent "cybersecurity incident", after researchers said World Leaks posted purported component design and specification papers of Apple and Tesla, both customers of the Indian group. Apple was investigating the breach and a "full analysis was going on", a source familiar with the matter said, adding that Tata had received a ransom demand related to the incident. Apple did not respond to requests for comment.
Memory giant Micron (MU) will report its third quarter earnings after the bell on Wednesday, providing another update on the broader AI build-out.
Memory giant Micron (MU) will report its third quarter earnings after the bell on Wednesday, providing another update on the broader AI build-out.
Pre-Market Stock Futures: Futures are trading mixed as we prepare to finish the last full week of the second quarter. We finished a wild holiday-shortened trading week last Thursday, as Friday was the federal Juneteenth holiday, and all major indices rebounded smartly from the Federal Reserve-induced sell-off on Wednesday. Details of the signed memorandum of ... Here Are Monday’s Best Wall Street Analyst Research Calls: Accenture, Apple, Boyd Gaming, BWX Technologies, Conoco-Phillips, Estee Laud
(Bloomberg) -- Steve Geoffrey, one of roughly 30 million foreign nationals in the Middle East, considers himself lucky to still be able to support his family in Kenya.Most Read from BloombergIran Says Hormuz Closed Again as Talks With US Set to OpenUS and Iran Make ‘Progress’ in Talks, Aim to Keep Hormuz OpenIranian Negotiators Said to Still Be Engaged in Talks With USDOJ Rejects Judge Request to Certify $1.8 Billion Fund NixedTrump’s Fears About Economy Undercut US Leverage in Iran TalksThe 38-
Apple (AAPL) customers may soon see the impact of artificial intelligence in an unwelcome place: the retail checkout screen. Apple has always relied on its vast supply chain to shield its premium-device industry from abrupt shocks. That’s helped the corporation keep its hardware engine chugging ...
Now that SpaceX is officially public, it may benefit companies like Alphabet in the long term.
As companies move quickly to adapt artificial intelligence, there are some areas where it may do more harm than good.
Plus, the hacker sent to calm the U.S. government’s nerves about AI, the surprising benefits of 3-D-printed batteries, Elon’s $86 billion war chest and more.
Investing.com -- India is seeking lower tariff rates than competing nations before moving ahead with a long-awaited trade agreement with the United States, Bloomberg reported, citing comments from Commerce and Industry Minister Piyush Goyal.
It was a sad day when my classic Apple iPod stopped working and I had to move my music to my iPhone, which wasn't quite up to the task. Apple eventually stops providing hardware service, software updates, and security patches for older devices, which can limit functionality over time. With iPods, ...
With plans to boost prices, Apple is counting on an affluent user base able to shell out $1,000 or more for a device.
Apple has spent years trying to make artificial intelligence a reason for consumers to buy new devices. That strategy has become more important as rivals, including Google, Microsoft, OpenAI, and Meta, move quickly with consumer-facing AI tools. For Apple, the opportunity is clear. If AI makes the ...
There have been renewed talks about whether tariffs could send us into another phase of trade wars. And while it’s up for debate as to whether a trade war 2.0, so to speak, has already arrived, I do think that investors shouldn’t panic over concerns that further tariffs will further fan the flame that is ... “They Forgot to Protect Our Industries With TARIFFS!” — Does a Trump Trade War 2.0 Loom?
(Bloomberg) -- Dutch chip-equipment giant ASML Holding NV is contending with its biggest challenge yet under the Trump administration: In a series of recent meetings, Commerce Secretary Howard Lutnick outlined concerns to ASML’s senior leaders that one of its top-of-the-line machines may have made its way into China, in violation of US-led export restrictions.Most Read from BloombergRead the 14-Point Draft Memorandum Between the US and IranModi Warns of ‘Shortage of Trust’ Ahead of Trump Meeting
Apple can afford the memory chips that it needs. After months of speculation about what the consumer-electronics giant might do in the face of soaring costs for memory chips, Apple now says it will be raising prices on its products. Chief Executive Tim Cook told The Wall Street Journal that the company has been trying to mitigate the “huge increases” in memory costs without passing them on to its customers, but “the situation has become unsustainable.”
Intel on Thursday named Seok-Hee Lee executive vice president of its contract chip-manufacturing division as it sharpens focus on its advanced packaging business. The American chipmaker has been trying to reinvigorate its manufacturing business under CEO Lip-Bu Tan, after missing out on the AI boom. The appointment follows President Donald Trump's announcement earlier in the day that Apple had agreed to work with Intel to design and manufacture its chips in the U.S. in a boost to the chipmaker's contract manufacturing business.
The memory tax is coming at Apple at a time when it's already battered with existing tariff drama.
Apple said on Thursday it will allow developers in Brazil to distribute iOS apps through alternative marketplaces and process payments outside its system, following an agreement with the country's antitrust watchdog CADE. • Apple agreed to make the changes to its services in December when it settled a dispute that had been opened in 2022. • For apps distributed via the App Store in Brazil, developers will be able to offer alternative payment methods within their apps and direct users to external websites to complete transactions, the company said.
(Corrects days of the week throughout the text) June 18 (Reuters) - U.S. stock index futures rebounded on Thursday after the previous session's selloff as optimism about a Middle East peace deal