"Full-Fledged Ice Age": Semiconductor Companies Slash Output On Supply Glut Samsung Electronics, the world''s largest memory chipmaker, provided more insight into the worsening slowdown for semiconductors and the bust in global PC markets. Korea Economic Daily reported Samsung "lowered its semiconductor sales forecast for the second half of the year by more than 30%." The newspaper attributed slumping semiconductors demand "as the economy froze due to central bank rate hikes caused by global inflation." The paper warned: "As the semiconductor industry has entered a full-fledged ice age , there are many forecasts in the industry that the recession will continue until the first half of next year when semiconductor inventories are eliminated." Earlier this week, Samsung''s Device Solutions division said they "lowered our sales guidance for the second half of this year (the company''s internal forecast) by 32% from our April forecast." None of this should be a surprise as we recently outlined PC Demand Suffers'' Steepest Decline In Years'' As Chip Shortage Turns To Glut . "Both DRAM and NAND flash suppliers and customers are holding too many semiconductor inventories," an official told Korea Economic Daily.
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Apple Inc’s hope for a to shield sensitive internal documents -- including 2018 email exchanges between CEO Tim Cook and top corporate officials as Apple weighed whether to tell investors that its revenue estimate was off by billions of dollars -- was dashed on Thursday.
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Tony Blevins, vice president of procurement at Apple, is apparently leaving the maker of iPhones, MacBooks, and other consumer electronics after making an offensive remark that went viral on TikTok. In a video posted on September 5, Tiktok star Daniel Mac approached Blevin. In his series, he questions people who own expensive cars about their […] The post Apple''s VP of Procurement Leaves Company After Offensive TikTok Video Comment appeared first on The Guardian Nigeria News - Nigeria and World News .
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ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Bill George, Harvard Business School senior fellow, and Jason Helfstein, Oppenheimer managing director of internet equity research, join ‘The Exchange’ to discuss Meta stock. Source link The post Apple’s new ad software will be a huge tailwind for Meta, says Oppenheimer’s Jason Helfstein appeared first on TECHTELEGRAPH .
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A warning from Nike provides valuable insights for Club stocks Apple, Starbucks and TJX Companies.
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Apple (AAPL) has been the subject of much analysis in recent days, as Bank of America downgraded the tech giant earlier this week over iPhone demand concerns and a media report…
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Friday''s top analyst upgrades and downgrades included Apple, Coinbase Global, Constellation Brands, Dollar General, First Solar, Kraft Heinz, Marvell Technology, Monster Beverage, QuantumScape, Range Resources and VFC.
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Meta Platforms Inc. (NASDAQ: META ) is no longer among the top 10 most valuable companies in the world as its market cap fell to $366.61 billion with shares of the company closing 3.67% lower on Thursday. What Happened: Meta has moved to the 12 th position among companies with top market cap behind Exxon Mobil Corp (NYSE: XOM ) whose market cap stood at $369.59 billion, taking it to the 11 th spot, data from companiesmarketcap.com shows. Visa Inc. (NYSE: V ) stock is at the 10th position, with a market valuation of $372.51 billion. Apple Inc. (NASDAQ: AAPL ) is the most valuable … Full story available on Benzinga.com
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At the close in the New York Stock Exchange, the Dow Jones fell 1.54%, the S&P 500 fell 2.11% and the NASDAQ Composite fell 2.84%. The leading gainers among the components of the Dow Jones index today were The Travelers Companies Inc, which gained 1.76 points (1.15%) to close at 154.68. Visa Inc Class A rose 0.88 points or 0.49% to close at 180.06. Merck & Company Inc shed 0.14 points or 0.16% to close at 86.64. The losers were Boeing Co shares, which lost 8.11 points or 6.08% to end the session at 125.33. Walgreens Boots Alliance Inc was up 4.97% or 1.65 points to close at 31.55 while Apple Inc was down 4.91% or 7.36 points to end at 142. .48. Among the S&P 500 index components gainers in today''s trading were Everest Re Group Ltd, which rose 3.07% to 267.41, STERIS plc, which gained 2.76% to close at 167.29, and also shares of W. R. Berkley Corp, which rose 2.73% to end the session at 65.18. The biggest losers were CarMax Inc, which shed 24.60% to close at 65.16. Shares of SolarEdge Technologies Inc lost 8.27% to end the session at 235.56.
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Dow futures changed little overnight, along with S&P 500 futures and Nasdaq futures, with nike ( NKE ) And the micron technology ( mo ) Earnings are in focus and the Fed’s favorite inflation gauge is on deck. X The stock market sold out heavily on Thursday, erasing Wednesday’s gains. The S&P 500 has reached its lowest levels in a bear market. The Nasdaq Composite didn’t quite cut its June lows, but the big Nasdaq 100, led by Apple Inc. Tesla ( TSLA ). Treasury yields rebounded somewhat on Thursday, while unemployment claims fell to a five-month low, something the Fed doesn’t want to see. apple ( AAPL ) And the Carmax ( KMX ) caused massive losses on Thursday. After paring losses on Wednesday due to a report of iPhone production cuts due to weak demand, Apple shares sold sharply on Thursday, in part due to an analyst downgrade, with iPhone chip makers also suffering. Carmax ( KMX ) severely lost earnings views Thursday morning, warning of “affordability challenges.” For largely similar reasons, Moody’s lowered its outlook for the global auto industry to negative from stable.
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NEW YORK : Wall Street stocks suffered another ugly rout on Thursday (Sept 29) as US bond yields resumed their upward climb on a bruising day for shares of Apple and other tech giants. Thursday''s economic reports included data showing a drop in weekly US jobless claims that point to a strong labor market likely to keep the Federal Reserve focused on its current policy of countering inflation. “Risky assets don’t stand a chance of a meaningful rally if the economy continues to show resilience while inflation continues to be significantly above the Fed’s funds rate,” said Oanda’s Edward Moya. The broad-based S&P 500 dropped 2.1% to 3,640.47, its lowest close since November 2020. The Dow Jones Industrial Average lost 1.5% to 29,225.61, while the tech-rich Nasdaq Composite Index tumbled 2.8% to 10,737.51. FHN Financial''s Chris Low said investors were also unnerved by market volatility in Britain after Prime Minister Liz Truss doubled down on a controversial tax cut policy that has rattled markets.
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September has historically been the worst month for stocks . With the S&P 500 down 7.5% with one trading day to go, you could say September is living up to its reputation. Well, almost. The index actually did worse in April and June, falling 9% and 8.8% , respectively. For September to claim its title, the S&P 500 would need to close the month below 3,582. After today’s rout, that would take a drop of about 1.6%. Certainly not out of the realm of possibility. Given this, you might be wondering why I’m writing about growth stocks to buy. I have three reasons. First, September is coming to an end and we are headed into a traditionally stronger period for stocks and the start of the Q3 earnings season. July, which marked the start of the Q2 earnings season, was by far the best month for stocks this year, with the S&P 500 up 9.2%. Second, this week’s bond-buying initiative by the Bank of England showed investors that, even during periods of high inflation, central banks are ready, willing and able to come to the rescue to prevent a true financial crisis from materializing.
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Apple is losing its longtime vice president of procurement, Tony Blevins, according to a new report from Bloomberg. The departure comes after Blevins made “crude remarks” in a TikTok video, which quickly went viral and was brought to Apple’s attention. Blevins is a 22-year veteran of Apple and has worked closely with Tim Cook and […] The post Apple exec departs over crude remarks in viral TikTok appeared first on TECHTELEGRAPH .
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The S&P 500 fell 2.1% to 3,640.47, marking its lowest closing price since November 2020. The Dow Jones Industrial Average declined 1.5% to 29,225.61, and the Nasdaq Composite Index dropped 2.8% to 10,737.51. Thursday’s economic figures revealed a decline in weekly US unemployment claims, indicating a robust labor market. As US stocks yield began their […] The post US stocks back in the red as Apple dips again appeared first on BOL News .
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Tech stocks sold off Thursday as investors confronted the implications of a weaker economy, demonstrated by Apple.
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Cirrus Logic (CRUS), Skyworks Solutions (SWKS) and Qorvo (QRVO) are among the companies most likely to be impacted from lower Apple (AAPL) iPhone sales, Bank of America said on…
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Apple Inc. fell 4.5% after suffering a rare downgrade as Bank of America warned of weaker consumer demand for its popular smartphones and laptops.
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Equities in Toronto slid on Thursday, after rallying in the previous session, as fears of a steep economic downturn persisted amid aggressive monetary policy tightening by global central banks. The TSX Composite came off its lows of Thursday morning, losing 250.8 points, or 1.3%, by noon EDT to 18,398.41. The Canadian dollar thundered lower 0.34 cents to 73.03 cents U.S. Among stocks, Linamar Corp sank $5.85, or 9.6%, to $54.83, and Magna International dropped $3.16, or 4.6%, to $65.93, after Scotiabank trimmed its price targets, saying a likely recession in 2023 and higher energy prices in Europe may lead to lower sales volumes of auto makers and component manufacturers, and pose headwinds to margins. Ero Copper jumped $1.32, or 9.3%, to $15.47, 1.6% after it announced the discovery of a regional nickel sulphide system within the Curaçá Valley over an initial strike length of five kilometres. On the economic slate, Statistics Canada reported Gross Domestic Product for July edged up 0.
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North America is anticipated to be the world''s largest market for IoT processors. North America has a 40.1% market share of the global IoT processor market. Europe is accounting for a market share of 23.6% of the global IoT processor market. NEWARK, DE / ACCESSWIRE / September 29, 2022 / The global IoT processor market is projected to reach a valuation of US$ 92,925.7 Mn by 2032, with sales growing at a healthy CAGR of 7.4% from 2022 to 2032. Predicted to reach an estimated US$ 45,420 Mn in 2022, the IoT processor market is fueled by associated benefits like greater business efficiency, empowering of new business models, and enhancement of existing services. The internet of things (IoT) is a low-powered processor that can host multiple applications from a variety of connected devices in real-time. This includes more data and sensors, end-to-end communications, faster responses, and smarter user interface. IoT empowers almost every aspect of the digital universe. These connected devices obtain huge amount of data on a daily basis, transfer the same data and information in real time to overcome human challenges.
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Reuters Vietnam''s Social Media Law May Impact Facebook, YouTube, Twitter Vietnam plans to introduce new laws to limit which social media accounts can post news-related content. This could come as a setback for social media giants such as Meta Platforms Inc.''s (NASDAQ: META ) Facebook , Alphabet Inc.''s (NASDAQ: GOOG ) (NASDAQ: GOOGL ) YouTube , and Twitter Inc. (NASDAQ: TWTR ). BP-Cenovus Energy Ohio Refinery Remains Closed After Fire Incident BP plc (NYSE: BP ) laid off most contractors at the Toledo, Ohio, refinery it owns with Cenovus Energy Inc. (NYSE: CVE ). Approximately 160,000 barrel-per-day plant will experience a prolonged shutdown following last week''s explosion and fire. Merck Inks Supply Deal To Commercialize COVID-19 Pills In China Merck & Co. Inc. (NYSE: MRK ) signed a cooperation framework agreement in China for its COVID-19 antiviral pills, which were co-developed by Ridgeback Therapeutics . The pharma giant has granted Sinopharm exclusive import and distribution rights to Lagevrio (molnupiravir).
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Here are Thursday''s biggest calls on Wall Street.
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Evercore ISI Group boosted First Solar, Inc. (NASDAQ: FSLR ) price target from $88 to $150. First Solar shares rose 1.7% to $138.49 in pre-market trading. B of A Securities cut Apple Inc. (NASDAQ: AAPL ) price target from $185 to $160. Apple shares fell 2.1% to $146.72 on Wednesday. UBS cut HUYA Inc. (NYSE: HUYA ) price target from $27 to $2.9. HUYA shares fell 4.5% to $2.33 in pre-market trading. RBC Capital lowered the price target on Lear Corporation (NYSE: LEA ) from … Full story available on Benzinga.com
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Cirrus Logic (CRUS), Skyworks Solutions (SWKS) and Qorvo (QRVO) are among the companies most likely to be impacted from lower Apple (AAPL) iPhone sales, Bank of America said on…
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Stocks Slide, Ugly Mood Returns As Traders Ask ''Did Anything Change'' The brief post-BOE euphoria has worn off, and risk-off sentiment returned to markets as concern about inflation and the global economy overshadowed the Bank of England’s desperate attempt to restore calm by restarting QE, exacerbated by more hawkish central bank talk and defiance by British PM Liz Truss''s tax plan (which has been slammed from the IMF all the way to the White House ). Treasuries resumed their slide with UK gilts, while US equity futures fell as European stocks extended a selloff that’s caused valuations to drop to their lowest since 2012. As of 730am, emini S&P futures slid 0.7% to 3704, recovering from losses as big as 1.5% earlier. The dollar rose and Treasuries resumed their slump as investors focused on expectations the Federal Reserve will continue to deliver aggressive interest-rate hikes. The pound snapped a two-day gain and UK gilt yields rose as Prime Minister Liz Truss defended a giant package of unfunded tax cuts that sent markets into turmoil. “Other than the dollar, there are not many assets that are trading constructively, ” said Julia Raiskin, Asia-Pacific head of markets for Citigroup Inc. “ The markets are very pessimistic.
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Supply Chain Effects From Hurricane Ian Could Linger For Weeks By Eric Kulisch of FreightWaves The risk to manufacturing, agriculture and distribution sectors in Florida is rapidly intensifying as powerful Hurricane Ian takes aim at the state’s southwest coast. But the economic ripple effects are likely to be felt well beyond the storm zone. Experts are predicting severe disruption to supply chains from flooding, power outages and wind damage that could stall factory and farm production, as well as freight movement through major port, airport, highway and rail nodes. The Tampa-to-Orlando corridor is chockablock full of huge retail and e-commerce distribution centers. Meanwhile, Typhoon Noru is similarly upsetting supply chains in Southeast Asia as it barrels across the South China Sea toward Vietnam. Ian is expected to make landfall in western Florida on Wednesday, according to forecasters. Major flooding from the storm surge is expected for communities along Tampa Bay. The storm could impact up to 2,800 manufacturing firms in aerospace, automotive components, heavy machinery, chemicals and plastics, as well as about 7,000 health care producers in pharmaceuticals, medical devices, diagnostics and other fields, Everstream Analytics, which uses predictive software to help customers like Apple and Schneider Electric manage supply chain risk, said in a weather update Tuesday. “Even just a couple hours of downtime at a major production site or industrial zone means additional time making repairs, spinning up machinery and restarting work,” said analyst Anthony Yanchuk.
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Amazon’s barrage of new hardware included something many of you might have been waiting for: a Kindle e-reader with stylus support. Yes, the Kindle Scribe comes with a magnetic stylus and a 10.2-inch, 300ppi display. You won’t need to charge or sync the Scribe''s stylus, and you can use it for jotting notes, journaling and annotating any books you''re reading. Starting next year, you’ll also be able to send Microsoft Word documents to Kindle Scribe. Kindle Scribe will start at $340 and arrives November 30th. Amazon Yesterday, Amazon also revealed an expanded Fire TV Omni line. It’s added two premium 65- and 75-inch QLED models, along with a redesigned Fire TV Cube. There’s a new sleep tracking gadget, more Echo speaker updates and refreshed Ring cameras, too. There was… a lot. – Mat Smith The biggest stories you might have missed YouTube Shorts copies TikTok again with voiceover narration Meta cracks down on ad-free Instagram client a day after it launched Logitech refreshes its range of Mac-specific MX keyboards and mice Amazon''s first QLED Fire TVs offer better picture quality and an ambient mode Amazon is turning the Echo Show 15 into a Fire TV Amazon announces Echo Studio and Echo Dot speakers with improved audio Amazon''s Halo Rise is a $140 bedside sleep tracker that works by sensing you breathe Ring brings radar detection to its Spotlight Cam Pro Shark''s self-emptying robot vacuum is half off for today only Amazon built Eero WiFi extenders into its latest Echo Dot speakers Sony''s PlayStation loyalty program debuts in the US on October 5th It follows the recent launch in Asia.
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India wants to boost the production of tablets and laptops to cut imports and make the country an export hub in the longer term. The federal technology ministry explored payments that could exceed half a billion dollars per company, Bloomberg reports. India plans to boost the financial incentives for tablet and laptop manufacturers, wooing companies like Apple Inc (NASDAQ: AAPL ), Dell Technologies Inc (NYSE: DELL ), and HP Inc (NYSE: HPQ ) to widen or begin local production. Notably, India wants to court Apple, which already assembles iPhones in India via its Taiwanese suppliers, to make … Full story available on Benzinga.com
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The Dow Jones Industrial Average powered higher as yields plunged. A Cathie Wood buy surged as Biogen (BIIB) exploded higher. Coinbase (COIN) and Riot Blockchain (RIOT) jumped as Bitcoin rose. Apple (AAPL) dived on iPhone 14 demand worries. Meanwhile, some noteworthy leaders made bullish moves. Vertex Pharmaceuticals (VRTX) and Cardinal Health (CAH) passed aggressive buy […] The post Dow Jones Jumps As Yields Plunge; This New Cathie Wood Buy Rockets; Bitcoin Rallies, Coinbase Jumps| Investor’s Business Daily appeared first on TECHTELEGRAPH .
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Apple is pulling away from iPhone 14 production, retreating from plans to increase manufacturing by 6 million units, according to a report by Bloomberg.
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(CNN) – Apple is cutting down the production of its iPhone 14 because of low demand, according to a Bloomberg Report. The report on Tuesday said the company won’t increase production by 6 million units in the second half of this year. They will instead produce about 90 million units which is about the same […] The post Apple limits new iPhone production due to low demand, report says appeared first on TECHTELEGRAPH .
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Wednesday''s session marks the first time in more than 2 years that the S&P 500 rallied roughly 2% or more without Apple also trading in the green.
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Do you own a foldable PC? A dual-screen PC? How about a laptop with two screens? All but a few of you will answer “no.” So why was Samsung’s demonstration of a slideable OLED display this week important? If you ask Intel executives, the answer is not always what you’d expect: Because it’s the other display technologies that benefit, and eventually you. Samsung Display chief executive JS Choi appeared on stage on the first day of Intel’s Innovation conference on San Jose to show off a 17-inch “slideable” display, which pulls out horizontally to expand the screen. Choi said that the prototype, which has yet to get a production date or price, was chosen over a foldable option. “As the leading provider of OLED technologies, this just convinces me that we have a lot more coming between us,” said Pat Gelsinger, Intel’s chief executive. Gelsinger earlier introduced the 13th-generation Core processor, code-named Raptor Lake , though he later downplayed an imminent 6GHz chip . Samsung Display’s slideable OLED display.
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Do you own a foldable PC? A dual-screen PC? How about a laptop with two screens? All but a few of you will answer “no.” So why was Samsung’s demonstration of a slideable OLED display this week important? If you ask Intel executives, the answer is not always what you’d expect: Because it’s the other display technologies that benefit, and eventually you. Samsung Display chief executive JS Choi appeared on stage on the first day of Intel’s Innovation conference on San Jose to show off a 17-inch slidable display, which pulls out horizontally to expand the screen. Choi said that the prototype, which has yet to get a production date or price, was chosen over a foldable option. “As the leading provider of OLED technologies, this just convinces me that we have a lot more coming between us,” said Pat Gelsinger, Intel’s chief executive. Gelsinger earlier introduced the 13th-generation Core processor, code-named Raptor Lake , though he later downplayed an imminent 6GHz chip . Samsung Display’s slidable OLED display.
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Apple Watch continues to gain popularity among existing iPhone users and is the leader in smartwatches. Check whether Garmin is a potential acquisition target of AAPL or not.
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Beacons Technology Market Analysis & Forecast for Next 5 Years New Jersey, NJ -- ( SBWIRE ) -- 09/28/2022 -- The Latest Released Beacons Technology market study has evaluated the future growth potential of Global Beacons Technology market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision-makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing dynamics, and emerging trends along with essential drivers, challenges, opportunities, and restraints in the Beacons Technology market. The study includes market share analysis and profiles of players such as Onyx Beacon (Romania), Leantegra (United States), Gimbal (United States), Accent Systems (Spain), Swirl Networks (United States), Estimote (United States), Aruba (United States), Kontakt.io (Poland), Cisco (United States) and Bluvision (United States), Sensoro (United States), JAALEE Technology (China), Beaconinside (Germany), Blesh (United States) and BlueUp (Italy).
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The Oracle leaders were each given total compensation of more than $138 million in the company’s fiscal year ended May 31, the company said in a regulatory filing.
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Futures Rebound From 2022 Low After Bank Of England Panics, Restarts Unlimited QE With everything biw breaking, including an explosive move in bond yields in the UK, 10Y yields rising above 4.00%, and Apple "suddenly" realizing there was not enough demand for the latest iteration of its iPhone 5, it was only a matter of time before some central bank somewhere capitulated and pivoted back to QE, and this morning that''s precisely what happened when the BOE delayed the launch of QT and restarted QE " on whatever scale is necessary" on a "temporary and targeted" ( lol ) basis to restore order, which sent UK bond surging (and yields tumbling the most on record going back to 1996 erasing an earlier jump to the the highest since 1998)… ... the pound first surged before falling back as traders realized the UK now has both rate hikes and QE at the same time, the dollar sliding then spiking, the 10Y US TSY yield dipping from 4.00%, the highest level since 1998, and stock futures spiking from fresh 2022 lows, but then fizzling as traders now demand a similar end to QT/restart of QE from the Fed or else they will similarly break the market.
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There are several large-cap stocks with dividend growth potential even as broad market conditions remain challenging. In general, large-cap stocks are ignored by investors in a bull market. However, funds flow into large-cap stocks once market sentiment turns bearish. The reason is that large-cap companies have earnings and cash flow stability. With the market correction, several large-cap stocks are also trading at an attractive valuation. Besides sustained dividend growth, I would expect healthy capital gains from these large-cap stocks. My focus is primarily on large-cap companies that are relatively immune to economic shocks. The cash flows, therefore, remain robust and provide headroom for dividend growth. There are cyclical businesses with an investment-grade balance sheet that continue to increase shareholder returns even during challenging times. Let’s talk about seven large-cap stocks with dividend growth potential. CVX Chevron $143.20 AZN Astra Zeneca $53.86 MO Altria $41.69 AAPL Apple $153.53 COST Costco $484.36 LMT Lockheed Martin $408.65 T AT&T $16.01 Chevron Corporation (CVX) Source: Jeff Whyte / Shutterstock.com From highs of $182, Chevron (NYSE: CVX ) stock has corrected by 22% as oil declines on macroeconomic concerns.
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It may not occur to investors to look for blue-chip sleeper stocks, since they don’t often think of blue-chips as “sleepers.” In tough times, seasoned investors seek comfort in the stability and safety that well-established robust companies can offer. Blue-chip businesses generate consistent earnings thanks to their vast resources, resilient business models, and strong brands. In addition, such businesses boast impressive track records of delivering strong returns over the long term, including consistent and growing dividend payments. In an environment where the benchmark S&P 500 index has lost a quarter of its value year to date, the market now offers a range of undervalued blue-chip stocks. Clearly, some of these businesses have been unfairly punished by the jittery market sentiment. Put another way, the recent decline in valuations of some of the leading blue-chip stocks represents a compelling buying opportunity for patient, long-term investors. These stocks are primed to provide robust capital returns when market sentiment reverses.
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Apple Inc. is backing off plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, according to people familiar with the matter.
The Cupertino, California-based electronics maker has told suppliers to pull back from efforts to increase assembly of the iPhone 14 product family by as many as 6 million units in the second half of this year, said the people, asking not to be named as the plans are not public. Instead, the company will aim to produce 90 million handsets for the period, roughly the same level as the prior year and in line with Apple’s original forecast this summer, the people said.
Demand for higher-priced iPhone 14 Pro models is stronger than for the entry-level versions, according to some of the people. In at least one case, an Apple supplier is shifting production capacity from lower-priced iPhones to premium models, they added.
Apple shares fell as much as 3.3% in pre-market trading on Wednesday.
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European- and Asian-listed microchip stocks slumped Wednesday after Bloomberg News reported that Apple won''t boost supplies of the latest iPhone after lower-than-expected demand. STMicroelectronics slumped 5% in Paris, ASM International fell 4% in Amsterdam, Infineon Technologies dropped 3% in Frankfurt and Taiwan Semiconductor closed 2% lower in Taipei. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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