When FIFA on Tuesday announced plans to create a $20 billion subsidiary to manage the commercial rights of the World Cup and other major tournaments, the proposal immediately became one of the most controversial ideas in modern football governance. What initially appeared to be a financial restructuring has quickly evolved into a debate over who
Micron Technology (NASDAQ: MU) has received an unlikely boost from Apple after Tim Cook described the surge in memory prices as a “100-year flood.” The remarks strengthened the argument that today’s shortage reaches beyond artificial-intelligence data centres. Apple’s chief executive said exponential memory-cost increases had contributed to reluctant price rises. Apple paid more for memory
Apple Inc. reported fiscal third-quarter results that topped Wall Street expectations on overall revenue and earnings, driven by strong iPhone and Mac sales. However, weaker-than-expected performance in China and its high-margin services business weighed on investor sentiment, sending shares down about 3.9% in after-hours trading. The iPhone maker reported revenue of $109.42 billion for the
Microsoft exceeded Wall Street expectations for its fiscal fourth quarter as stronger-than-expected Azure cloud growth and rising adoption of its artificial intelligence products helped ease investor concerns over the company’s massive spending on AI infrastructure. Shares of Microsoft MSFT rose about 3.5% in extended trading after the results were released, with investors responding positively to
Qualcomm (QCOM) shares are inching lower in extended hours after the company reported fiscal Q3 results that reflected persistent semiconductor supply constraints. The company based out of San Diego, CA earned $2.21 per share in its third financial quarter, less than $2.23 that analysts had called for, as net income tumbled 25% year-on-year to $2
Micron Technology (MU) and its memory peers are bearing the brunt of a fierce market selloff on Tuesday, which has been the case this month. Micron declined 8% while SanDisk plunged 15% in the session. SK Hynix’s US ADR shares fell 8%. MU has lost over 40% this month, heading for its worst single-month performance
The Dow Jones Industrial Average and the S&P 500 ended higher on Monday, while the Nasdaq Composite closed lower as weakness in semiconductor stocks offset gains in other sectors ahead of a pivotal week for corporate earnings, inflation data and the Federal Reserve’s interest rate decision. The Dow gained 262.83 points, or 0.51%, to close
Uber stock price is in a free fall this year and is trading at the lowest level since April last year. It has plunged by over 35% from its highest point since September last year. This retreat has pushed its market capitalization from a record high of $206 billion to the current $134 billion. So,
Top flying car stocks such as Joby Aviation and Archer Aviation have tumbled this year, wiping out billions of dollars in market value. Joby Aviation shares have fallen 48% year to date and 60% over the past 12 months, while Archer Aviation has declined 37% and 57%, respectively, despite both companies moving closer to commercial
US stocks ended mixed on Friday as gains in the Dow Jones Industrial Average were offset by weakness in semiconductor stocks, while investors continued to monitor developments in the Middle East and their potential impact on global markets. The Dow Jones Industrial Average rose 235 points, or 0.5%, supported by a 3% gain in Apple