Opinion: The chip boom likely over, as Micron says it’s in a ‘downturn’

The semiconductor boom of the past two years appears to be ending. Memory chip maker Micron Technology Inc. MU, -1.32% gave a downbeat forecast for its next fiscal quarter Thursday, predicting a massive revenue shortfall ranging from $ 1.5 billion to $ 2.3 billion, as COVID-19 restrictions in China and slower demand for consumer products … Read more

Dow futures up nearly 500 points ahead of retail sales and comments from Fed’s Powell

US stock index futures surged on Tuesday, with the technology sector leading the way higher ahead of a batch of economic data, including April retail sales and comments from several Federal Reserve speakers, including Chairman Jerome Powell later in the session. Walmart’s WMT, + 0.11% earnings are also due Tuesday. How are stock-index futures trading? … Read more

Qualcomm stock rallies more than 6% as handset sales drive record results, strong outlook

Qualcomm Inc. shares rallied in the extended session Wednesday after the chip maker’s record quarterly results and strong outlook blew past Wall Street estimates and the company assured analysts that demand continues to outstrip supply. Qualcomm QCOM, + 1.20% said it expects adjusted earnings of $ 2.75 to $ 2.95 a share in the third … Read more

Why is the stock market falling? Dow drops over 600 points as investors weigh Fed’s policy path, earnings

US stocks fell sharply Friday, extending losses as investors weighed up hawkish comments on interest rates by Federal Reserve Chairman Jerome Powell and a fresh batch of corporate earnings that largely disappointed. How are stocks trading? The Dow Jones Industrial Average DJIA, -1.54% was down 608 points, or 1.7%, at 34,186. The S&P 500 SPX, … Read more

Former Apple employee charged with defrauding $ 10 million

A former Apple employee has been charged with defrauding the tech giant out of more than $ 10 million by taking kickbacks, stealing equipment and laundering money, federal prosecutors said. Dhirendra Prasad, 52, worked for 10 years as a buyer in Apple’s Global Service Supply Chain department. A federal criminal case unsealed Friday alleges that … Read more

Nvidia rejects $ 40 billion acquisition of Arm: report

Nvidia Corp. abandons its attempt to acquire chip designer Arm Ltd. from Softbank Group Corp., according to a report Monday. Nvidia NVDA, +1.68% agreed to acquire Arm for $ 40 billion in cash and shares by 2020, in what would have been the largest semiconductor merger in history. The deal met with immediate opposition from … Read more