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Qualcomm shares fell about 5% in premarket trading on Thursday after the chipmaker's warning about higher memory costs and a steeper decline in Apple revenue raised concerns about near-term profit growth. A surge in AI infrastructure spending has tightened semiconductor supply chains, driving up costs for memory, wafers, packaging and testing. Qualcomm plans to pass on those increases to customers through double-digit price hikes.
Meta Platforms earnings disappoint, Qualcomm’s pivot away from smartphones, beer makes a comeback, and more news to start your day.
Today Earnings (a.m.): Mastercard, Hershey, KKR, Yum Brands, Cigna, Regeneron, Valero Energy, Norwegian Cruise Line, Hyatt Hotels, Bristol-Myers Squibb, Altria, International Paper, SiriusXM, Blue Owl Capital Earnings (p.
Bayerische Motoren Werke Aktiengesellschaft (ETR:BMW) said it is preparing a broad transformation program focused on streamlining processes, increasing the use of artificial intelligence and offering voluntary severance packages for indirect employees, while maintaining its production footprint in k
Apple CEO Tim Cook is on deck to lead the company one last time in reporting its latest batch of quarterly earnings. Apple is scheduled to report fiscal third-quarter financials after the stock market closes on Thursday. Apple announced in April that Cook will be stepping down on Sept. 1.
Every few years Apple does something that sounds like a minor product tweak but is actually a meaningful change to how it makes money. The shift from selling music to streaming it. The move from hardware warranties to AppleCare subscriptions. The build-out of Services into a business that now ...
Qualcomm (NASDAQ:QCOM) reported fiscal third-quarter revenue of $9.9 billion and non-GAAP earnings per share of $2.21, with revenue reaching the high end of the company’s guidance range. The company said record automotive sales and growth in Internet of Things products helped offset pressure in its
The chipmaker topped revenue estimates, but cautious guidance, supply constraints, and Apple headwinds weighed on investor sentiment.
(Bloomberg) -- A bipartisan group of US senators urged Apple Inc. to abandon any efforts to buy chips from blacklisted Chinese semiconductor suppliers CXMT Corp. and Yangtze Memory Technologies Co., warning that the iPhone maker risked becoming reliant on a US adversary for crucial components.Most Read from BloombergStocks Fall as 30-Year Bond Yields Surge After Fed: Markets WrapWarner Bros. Deal Collapse Would Cost the Ellisons $9.8 BillionTrump Says US Will Strike Iran Hard as War Escalates Ag
Asking for a Trend Host Josh Lipton previews the biggest market catalysts for Thursday, July 30, including highly anticipated earnings from Apple (AAPL) and Amazon (AMZN) as well as the expected IPO debuts of Jersey Mike's and Reformation.
(Bloomberg) -- Qualcomm Inc., the largest maker of smartphone processors, gave a weak profit forecast for the current quarter, signaling that component shortages and rising costs are taking a toll on its main market. Most Read from BloombergUS Intercepts Iran Attack on Bases, Puncturing Days of CalmWarner Bros. Deal Collapse Would Cost the Ellisons $9.8 BillionTrump Says US Will Strike Iran Hard as War Escalates AgainApple Set to Make Big Smart Home Push With Siri AI at CenterSK Hynix Profit Dis
Fed Chair Kevin Warsh reassured markets about a resilient economy, but geopolitical uncertainty remains the major factor for most interested parties right now.
Qualcomm forecast fourth-quarter profit below Wall Street estimates on Wednesday, and said revenue from Apple products would decline faster than expected as supply constraints and rising costs weighed on its business. In an interview with Reuters, CEO Cristiano Amon said costs had risen not just for memory chips, but across the supply chain. Qualcomm plans to raise prices starting September 1 in an effort to return its margins to historical levels, he said.
Amazon, Apple set to follow tomorrow with their own quarterly numbers; Nvidia’s due next month
LONDON, July 29 (Reuters) - Apple said on Wednesday that proposed UK rules governing its App Store would amount to price regulation, arguing that plans to loosen its control over in-app payments could undermine innovation and investment. In a submission to Britain's Competition and Markets Authority, the iPhone maker said proposed "steering" requirements would go beyond promoting competition and give the regulator a "highly intrusive" role in managing its business.
The Tim Cook era was a highly profitable one for Apple shareholders.
Wall Street faces a twin set of risks on Wednesday, tied to Big Tech earnings and a Federal Reserve interest-rate decision, as stocks undergo a rare change of leadership ahead of the summer market doldrums. “The market’s response to both should provide a clearer indication of whether the current rotation continues or begins to develop into broader weakness,” said Zaheer Anwari, co-founder and CEO of the Luxembourg-based Revacy Fund.
Wall Street faces a twin set of risks on Wednesday, tied to Big Tech earnings and a Federal Reserve interest-rate decision, as stocks undergo a rare change of leadership ahead of the summer market doldrums. “The market’s response to both should provide a clearer indication of whether the current rotation continues or begins to develop into broader weakness,” said Zaheer Anwari, co-founder and CEO of the Luxembourg-based Revacy Fund.
Apple Earnings Loom as Wall Street Braces for Historic CEO Shift
Apple will report its third quarter earnings on Thursday.
By Amanda Cooper July 29 (Reuters) - Shares in companies driving the AI boom have been under pressure for weeks.
Apple's decision to hold iPhone prices steady is set to power its strongest June-quarter sales growth in five years, but investors will want to know how long it can resist an increase. The consumer electronics giant raised iPad and MacBook prices last month as it sought to offset cost increases from a shortage of memory and storage chips caused by massive AI datacenter buildouts. Apple's decision paid off: iPhone shipments rose 3% and the company's market share climbed to nearly a fifth, estimated research firm Counterpoint.
Today Federal Reserve meeting: Fed Chairman Kevin Warsh will hold a press conference at 2:30 p.m. ET, following the FOMC interest-rate decision at 2 p.m. Earnings (a.m): Procter & Gamble, Humana, L3Harris, Biogen, General Dynamics, Teva Pharmaceuticals, Airbus Earnings (p.
BEIJING, July 29 (Reuters) - Shipments of foreign-branded phones within China including those from Apple Inc soared 66.3% to 3.28 million handsets in June, according to Reuters calculations based on
Apple's market cap briefly hit $5 trillion before Thursday's earnings, testing Tim Cook's final report as CEO.
Apple is slated to report earnings Thursday afternoon, with traders expecting the iPhone maker’s stock could extend its record-setting rally following the results.
Apple could finish the year as the world's largest company if its financial results remain strong.
Meta Platforms (META), Microsoft (MSFT), Amazon (AMZN), and Apple (AAPL) are the next Big Tech names — part of the Magnificent Seven — to report quarterly earnings results this week. Zacks Investment Research stock strategist Ethan Feller weighs in on investors' expectations for these Magnificent Seven member stocks.