|Bid||202.60 x 800|
|Ask||202.57 x 800|
|Day's Range||202.26 - 212.05|
|52 Week Range||142.00 - 233.47|
|Beta (3Y Monthly)||1.08|
|PE Ratio (TTM)||17.19|
|Earnings Date||Oct 30, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||3.08 (1.45%)|
|1y Target Est||223.21|
“It’s really unusual and really distorting the global financial system,” says Torsten Slok, a chief economist at Deutsche Bank Securities.
Samsung's Galaxy Note10+ is a powerful smartphone with a big price tag.
Stocks fell sharply across the board after President Donald Trump said U.S. companies are ‘hereby ordered’ to look for alternatives to China. Technology companies were among the worst hit.
DOW UPDATE The Dow Jones Industrial Average is seeing a selloff Friday afternoon with shares of Apple Inc. and American Express facing the biggest setback for the price-weighted average. Shares of Apple Inc.
DOW UPDATE The Dow Jones Industrial Average is in a selloff Friday morning with shares of Apple Inc. and 3M facing the biggest declines for the index. Shares of Apple Inc. (AAPL) and 3M (MMM) are contributing to the index's intraday decline, as the Dow (DJIA) was most recently trading 441 points (1.
(Bloomberg) -- Semiconductor companies and Apple Inc. fell sharply on Friday, as the trade war between the U.S. and China continued to escalate.China’s Ministry of Finance said the country plans to levy retaliatory tariffs on another $75 billion of U.S. goods, pressuring the securities in pre-market trading. Their losses were extended following the open, after President Donald Trump subsequently said that he would announce his response Friday afternoon.Apple fell as much as 3.9%. The iPhone maker is heavily correlated to trade issues because China is both a major part of its supply chain and a notable market for its products. The company derived nearly 20% of its 2018 revenue from China, according to data compiled by Bloomberg.Chipmakers have been similarly volatile because of the trade war. The Philadelphia Semiconductor Index dropped 3.6% on Friday, and every member of the benchmark industry index was in negative territory.Among notable decliners, Qualcomm Inc. lost 3.3% while Nvidia Corp. was off 5% and Micron Technology shed 3.5%. Broadcom Inc. was down 4.9% and ON Semiconductor Corp. lost 5.4%.Technology stocks were the weakest-performing sector on Friday, with the S&P 500 information technology index down 2.4%. The S&P 500 overall fell 1.4%.(Adds Trump’s response in second paragraph, updates prices to market open)To contact the reporter on this story: Ryan Vlastelica in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Catherine Larkin at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Qualcomm Inc. won’t have to renegotiate its patent licenses while appealing an antitrust ruling won by the U.S. Federal Trade Commission, a U.S. appeals court ruled Friday.Qualcomm has raised “serious questions” about the merits of the trial court’s ruling, the U.S. Court of Appeals for the 9th Circuit said in an order granting a stay. Forcing Qualcomm to enter into new contracts imposes changes that “cannot be easily undone should Qualcomm prevail on appeal,” the three-judge panel in San Francisco said.U.S. District Judge Lucy Koh found that Qualcomm’s “no license, no chips” policy unfairly leveraged the company’s market position to force customers to pay inflated prices for chips and royalties for their technology. She ordered the company to end the policy and renegotiate some of its contracts for chips and royalties.Qualcomm has argued that a stay is crucial to its business. Under the original ruling, the company would be forced to renegotiate patent licensing contracts with phone makers, a process that could slash its largest source of profit. Such renegotiations would create binding arrangements that wouldn’t be reversed, even if it were to have the ruling overturned on appeal.Apple, SamsungThe San Diego-based chipmaker is unusual in the chip industry because it gets the majority of its profit from fees on patents that cover the fundamentals of how modern phone systems work. Apple Inc., Samsung Electronics Co. and all of the world’s biggest phone makers have to pay whether or not they use its chips. That arrangement has caused intense legal fights and regulatory scrutiny around the world for Qualcomm.The case has split the government. While the FTC argued that Qualcomm harmed competition, the U.S. Department of Justice, as well as the Defense Department and Department of Energy, said the order threatens national security and harms consumers.“Whether the district court’s order and injunction represent a trailblazing application of the antitrust laws, or instead an improper excursion beyond the outer limits of the Sherman Act, is a matter for another day,” the appeals panel said, referring to the federal antitrust law.Qualcomm’s appeal will be heard in January, the court said.The case is Federal Trade Commission v. Qualcomm, 17-220, U.S. Court of Appeals for the 9th Circuit (San Francisco).(Updates with details of court ruling in second paragraph.)To contact the reporters on this story: Susan Decker in Washington at firstname.lastname@example.org;Ian King in San Francisco at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org, Elizabeth Wasserman, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
President Donald Trump said on Friday he was ordering U.S. companies to look at ways to close their operations in China and make more of their products in the United States instead, sending U.S. markets down sharply in a new rhetorical strike at Beijing as trade tensions mounted. Trump cannot legally compel U.S. companies to abandon China immediately.
A vast majority of employees queried at Cisco Systems and several other big Silicon Valley tech employers say they've noticed cost-cutting at work.
Telecom carriers need a win. The smartphone business is stagnant. Consumers have become complacent with good enough devices. But 5G, coupled with amazing new AR experiences, changes everything.
Big companies across America spent less on their own shares for a second quarter in a row, threatening a key pillar of support for the stock market that has helped to push indices to record highs. The reduction in share buybacks comes after a bumper 2018 when the Trump administration’s tax reform freed up cash for companies to spend a record $806bn on their own shares. This year, buyback activity is likely to drop to $798bn, based on S&P Global estimates.
(Bloomberg) -- Huawei Technologies Co. expects U.S. export restrictions to reduce annual revenue at its consumer devices business by about $10 billion, as the company is banned from buying American components like semiconductors and software.China’s largest technology company is seeking ways to replace key U.S. suppliers such as Cadence Design Systems Inc. and Synopsys Inc., Deputy Chairman Eric Xu said Friday. The overall damage to the company will be a “little less” than billionaire founder Ren Zhengfei’s initial estimate, Xu added.Huawei is seeking to develop alternatives after coming under intense pressure from the Trump Administration, which has argued its technology represents a security threat. On Friday, it introduced its most powerful artificial intelligence chipset, the Ascend 910, which is poised to rival some of the best offerings from Qualcomm Inc. and Nvidia Corp. Earlier this month, it offered the first glimpse of an in-house software -- HarmonyOS -- that may someday replace Google’s Android.The company is also researching ways to replace chip-design software tools offered by Cadence and Synopsys, Xu told a news briefing in Shenzhen without elaborating. “There were no chip design tools 10 years ago, but the industry still developed chips,” said Xu, who argued that Cadence and Synopsys were not must-haves for design. “Intel started to develop chips in the 1970s, when those companies didn’t exist.”Since May, Huawei has occupied the uncomfortable position of being both an established global brand and a member of the U.S. Entity List, which bars it from trading freely with American suppliers. Despite a series of 90-day reprieves, the latest of which came this week, the uncertainty caused by American sanctions has already cost the company a great deal.Even if Huawei is eventually brought in from the cold, the impact of this summer’s upheaval will be widespread and painful. Already, it reported slower sales growth in the second quarter compared to the first as the ban started to bite, especially into a consumer business encompassing smartphones and laptops. That in turn is accelerating Huawei’s effort to become self-reliant.One area in which the Chinese company is rapidly developing in-house expertise is semiconductors, propelling Beijing’s ambitions of weaning itself off foreign chips. HiSilicon -- Huawei’s chip design subsidiary -- has been developing its capabilities for a long time, and it’s recently grown into the second largest customer (after Apple Inc.) for the world’s biggest chip manufacturing contractor Taiwan Semiconductor Manufacturing Co. Huawei has also elevated the presence of home-grown technologies throughout its product line -- from base stations to smartphones and servers -- as a key step to limiting the damage of the U.S. ban.The Ascend 910 processor unveiled Friday is a show of technological prowess. It will be used for AI model training, and Huawei says it outperforms all existing competition. Xu proclaimed that “without a doubt, it has more computing power than any other AI processor in the world.” The company also unveiled MindSpore, an AI computing framework that -- along with the 910 -- is supposedly twice as fast as Google’s TensorFlow.”The May 16 sanctions incident had no impact on the execution of Huawei’s AI strategy nor commercialization of AI products,” said Xu. “Our R&D project related to AI is building up steadily.”(Updates with Ascend’s specs from the third paragraph)To contact Bloomberg News staff for this story: Gao Yuan in Beijing at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Edwin Chan, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The fight to lead internet streaming services is getting tighter, with Netflix and Hulu leading the pack, while Apple TV offers viewers a set-top box.