Factories have suspended production. Truckers are stuck on highways. Containers are piling up at ports. Shipping vessels have been waiting to unload. China’s economy is set to pay a price as the communist regime’s determination to stamp out the COVID-19 outbreak through harsh lockdowns have brought its manufacturing and commercial hubs, like Shanghai, to a…
China’s Lockdown of Nearly 400 Million Set to Strike a Blow to Economy
April 16, 2022
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Samsung Electronics Q1 Profit Tops Market Expectations on Solid Chip Demand
SEOUL—Samsung Electronics Co. Ltd. reported on Thursday an estimated 50 percent jump in quarterly operating earnings to post its highest first-quarter profit since 2018, beating expectations as solid demand underpinned prices for memory chips. Earnings at the world’s largest memory chip and smartphone maker were also supported by brisk smartphone sales in the quarter, along…
Why This Analyst Recommends AMD and These 3 Chip Stocks as His Favorite Semiconductor Plays
Despite supply chain challenges, an analyst at KeyBanc Capital Markets said he is constructive on the semiconductor cycle. Here’s why. Strong Demand Persists Fourth-quarter IC unit shipments increased 15 percent year-over-year, slower than the third quarter’s 15 percent growth but much faster than the five-year, fourth-quarter average of 9 percent, analyst John Vinh said in a…
Mercedes-Benz Puts 5,600 Workers on Vacation in Brazil Due to Chips Shortage
SAO PAULO—Mercedes-Benz Group will put more than five thousand workers on collective vacation in two plants in Brazil due to the shortage of semiconductor chips, the company said on Monday. The production stoppage will happen from April 18 to May 3 and includes 5,000 employees in the Sao Bernardo do Campo plant and 600 in…
Volvo Cars Says March Sales Fall 22 Percent, Hurt by Chip Shortage
STOCKHOLM—Volvo Cars said on Monday car sales in March fell 22 percent to 58,677 cars as the automaker faced shortages of a specific semiconductor. Volvo, majority-owned by China’s Geely Holding, said the shortage is expected to impact production during the second quarter.
Ford, GM to Halt Production at Two Michigan Plants Due to Parts Shortage
April 1, 2022
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Ford Motor Co. and General Motors will each halt production next week at a Michigan plant due to parts shortages, the two companies said separately on Thursday. No. 2 U.S. automaker Ford said it would suspend production at its Flat Rock Assembly Plant next week, where it builds the Mustang, due to the global semiconductor…
Intel, Micron CEOs to Testify to US Senate on March 23
The CEOs of Intel Corp. and Micron Technology Inc. will testify on March 23 before the U.S. Senate, Reuters reports. The hearing would focus on vulnerabilities in semiconductor supply chains and the sector’s connection with American competitiveness. The PACCAR Inc. chief will also testify at the hearing. The U.S. presently accounted for 12 percent of the chip production versus…
Intel Unveils $88 Billion Chipmaking Expansion Plan for Europe
LONDON—U.S. chipmaker Intel unveiled plans on Tuesday to invest up to 80 billion euros ($88 billion) across Europe as part of an ambitious expansion aimed at evening out imbalances in the global semiconductor supply chain. CEO Pat Gelsinger said Intel was investing the money “along the entire semiconductor value chain” as part of a holistic…
Here’s Why Apple Analysts Are Bullish Over ‘Peek Performance’ Event
Apple, Inc. announced a few breakthrough products at its Spring launch event, dubbed “Peek Performance,” held on Tuesday. Here are all the sell-side reactions to the announcements: The Apple Analysts: Morgan Stanley analyst Katy Huberty maintained an Overweight rating and $210 price target on Apple shares. Needham analyst Laura Martin has a Buy rating and…
Bosch to Invest Additional 250 Million Euros in Chip Production Capacity
BERLIN—Bosch is investing an additional 250 million euros ($282.50 million) in extending chip production facilities at its Reutlingen plant in Germany, the company said on Tuesday. The Reutlingen site had previously been earmarked for 50 million euros of a total of 400 million that the supplier set aside last year for spending on chip production…
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