35 Burst results for "Taiwan Semiconductor"
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"A soft landing or a no landing looks like what we're seeing across tech earnings Tesla is recalling more than 362,000 vehicles due to a crash risk associated with its so called full self-driving beta software one O two on Wall Street and that means it's time now for the market driver support with a focus on American depositary receipts. Here she is with our Thursday edition. It's Abigail too little. Thanks, Charlie, and most of the ADRs that we track while they're trading higher may be suggesting that the weakness that we saw earlier for U.S. stocks could turn around as we've seen over the last two days. In other words, maybe a bullish reversal starting out with some of the China tech ADRs. We do overall have a decline there, but some of the more popular names that we check in on such as JD, nettie's, neo, Taiwan, semiconductor, actually Taiwan Semiconductor is one to the downside, but those other ADRs, those Chinatown ADRs Charlie up between one and three and a half percent as for some of the European banks. Deutsche Bank is standing out. It's up 3.2%, but Credit Suisse and UBS credit tweets at least down 1.4% Barclays, it's up ever so slightly, BP, the energy giant up about four tenths of 1% and all of this trading I did a lot of digging for reasons Charlie, but it seems to be independent investors going more up the macro story today for these ADRs. All right, we thank you very much, Abigail, too little, keeping track of those ADRs. Briefly, BP's buying TravelCenters of America for $86 a share. We've got shares of travel, centers of America surging now by 70.6%. And that's a Bloomberg business flash. This is balance and power with given western. You can spend a lot of money at the border, but you gotta have the right policy in place. You can start at the sun provoked war that has led to devastation in Ukraine and around the world. Well, the world of politics meets the world of business. When the Central Bank has succeeding and slowing down the economy, conflicting signals is what you expect. It's really important for markets to understand is the fed sees us as a marathon, not a sprint. Balance of power with given Weston on Bloomberg radio. The debt ceiling looms as the federal budget deteriorate, China strikes back over the shooting down of those enough identified objects over North America and Chile goes green with hydrogen. From the Bloomberg interactive broker studio in New York, welcome to the second hour of bounce of power
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"Countdown to the close, Bloomberg's comprehensive cross platform coverage ahead of the U.S. market close, starts right now. This is the countdown to the close about 6 minutes left to go here in the trading session. Romaine boss stick alongside scarlet food. We're joined right now by our colleagues, Carol massar and Madison mills. Welcome to our audiences across Bloomberg television radio, as well as for those folks streaming on YouTube. Carol master, we talk about the market that was so lasered in here on a couple of key data points, the CPI data yesterday in the retail sales numbers today. Those have come and gone. And we're now seeing the market reaction and it's a little bit mixed here. It seems like some people think that this maybe is all clear and other people saying, well, the fed's going to be in the way. Yeah, we have a good debate continuing here. You like economic growth, don't you? I love economic growth. You know, but I'd like to come down. No landing soft landing. I don't know. Hey, listen, one thing I noticed, there's three women against one guy. I'm just going to tell you a romaine. You better watch it. All right, let's talk about speaking of what I'm watching is a semiconductor sector. There was a slew of news, so let's bring it up for everybody on TV and on Bloomberg originals and YouTube. Sex is pretty much little changed here. But Taiwan Semiconductor, that stock is down about 5 and a half percent. You know, you had the 13 F filings, hedge funds. A lot of them piling in to Taiwan semi last quarter, but this was happening just as Warren Buffett sold 86% of his short term stake cutting it just after months that he disclosed he had that $5 billion stake. So TSM certainly under pressure and I wanted to bring up Intel two. It's flat right now. We've got a story on the Bloomberg about how Wall Street is bracing for Intel to cut its record dividend. So it's just something we're keeping an eye on, Maddie. Something we're keeping an eye on also regarding those retail numbers from this morning. And those consumer floodgates are just ripping open as we know all 13 retail sales categories, rose last month, but take a look at this chart spending at restaurants and bars rose 7.2% that's the most since March of 2021. This data point is the main proxy for services in the retail sales report. So this is critical data when we're looking at as we try to kind of cling to any signs of disinflation on the good side, this figure is just showing that stickiness of demand for services. We continue to see on the services side definitely seems to be the ammunition for the fed to remain hawkish here, the balance right now between the economic growth, the resiliency of that spending, and the reaction function by the fit on change right now on an S&P 500 down two tenths of a percent on the Dow. The NASDAQ up about 5 tenths of a percent and some of the cyclical and small cap names out in front here on the day up about 8 to 9 tenths of a percent on the Russell 2000. And I'm looking at the sector performers here in the S&P 500 energy off by more than 2% as oil prices fall. Energy actually among the 11 industry groups has the smallest gain of all the sectors that are still up for the year. And remember, the S&P 500 is higher for the year. So that's pretty notable, given that it was the best performing group last year. And a lot of people still say there's a lot of value to be found in those energy companies. Well, we'll see that they actually look for it here. Of course, there is still some economic concerns. One reason why you see the drop in energy prices and of course EID data that we got a little bit earlier this showed one of the biggest jump in stockpiles that we've had. I think going back all the way to June of 2021. So definitely some concerns that maybe the demand isn't there pioneer natural among some of the big energy names that are moving lower here on the day. They're down 5%. Meanwhile, you have comstock, which is actually up 4% natural gas producer. And by that's largely because of some cost cutting that we're learning on the Bloomberg terminal today. So maybe the reaction there is what's making them the outlier here on the day. Meanwhile, you go back to the top of the screen here, any concerns here about a potential slowdown in digital ad spending that might have been put to rest by the report that we got out of trade desk earlier today. Those shares of 27%. The company not only had a great quarter, but standing by its forecast for the full year, both in terms of revenue as well as on EPS. So some people think that maybe the sell off that we saw in that ad space was a little bit too much, similar story for silvergate capital, which of course had a massive sell off. Those shares, which of course were up in the double digits yesterday, rising another 23% here on this day. And Carol, of course, we then go back, of course, to the big number, Maddie was just talking about it that retail sales number. You see the aggregate change, they are on your screen right now. That is resiliency Carol master of 3%. Tell me otherwise. It's unbelievable, right? Interesting to see everybody kind of out in full force in January, spending, and it was really broad based in terms of the expenditures that we saw from consumers. Having said that, our David Westin caught up with Brian deese earlier on Bloomberg radio Bloomberg TV. Of course, the president's top economic adviser, those stepping away as we know Lil brainard will take his spot. But David asked him about inflation coming down and if we can continue to see the pace of declines continuing, check it out. As you move down, certainly you're less likely to see the kind of deceleration in
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"Improve given the aerospace recovery. And again, GE shares up now by 9 tenths of 1%. U.S. business activity contracted for a 7th month though at a more moderate pace, follow measure of input prices firmed in a sign of lingering inflationary pressures, the S&P Global flash January composite purchasing managers index, rose 1.6 points to 46.6, readings below 50 indicate falling activity. Here's where we stand the Dow, now up by 27 points again of four tenths of 1%, the S&P lower little change down one tenth of 1% right now down 5, a drop for nez stack of 21 points down by two tenths of 1%. Ten year yield 3.47% with the two year 4.20%, spot gold up two tenths of 1%, 1934, the ounce, West Texas enemy crew down, one and a half percent, 80, 41 a barrel. One O two on Wall Street, time now for the market drivers report with a focus on American depository receipts. Here she is. Abigail Doolittle. Thanks, Charlie. We're looking at somewhat mixed action for most of the major ADR segments that we follow here starting out with. Well, it's the most difficult to choose because there's lots of outsized movers, but let's start out with some of the European banks, Credit Suisse, that EDR down 1.4%. We also have Barclays, the UK ADR down 1% China tech one of our favorite areas more weakness today than strength overall down about 6 tenths of 1%, but we have Taiwan's semiconductor down 1.5% Billy Billy down 1.8% neo, the EV maker down 3.2% turning to another part of tech that chip complex now Taiwan Semiconductor clearly a part of it, but ASML, the Dutch kept semi cap equipment company, that ADR down 1.2% they report tomorrow, that will be a big tell for some of the other chip companies since they make the machine rate that makes the chips Charlie so an interesting perhaps forward teller. Indeed, we thank you very much, Abigail duel, keep track of those ADRs, Microsoft after the bell today down now by four tenths of 1%. Recapping and repeating our earlier headline officials say the U.S. is set to provide Ukraine, M1 Abrams battle tanks. I'm Charlie Palatin, that is a Bloomberg business flash. This is balance and power with given western. China is sort of one of those very few areas right now where you are seeing a lot of bipartisan support. You've got to be sensible border security we can have order at the border where the world of politics meets the world of business. We don't need a debt ceiling crisis because the debt is still in crisis. We'll be very, very damaging to our own economy. The state of American business is fed up. Jay Powell has to be Derek careful about making major shifts in Tong because markets exaggerate. Balance of power with David Westin on Bloomberg radio. PMI numbers point to the economy getting a bit stronger
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"To us on Bloomberg UK politics. Let's get more on our top stories, man from me on garands. Steven good morning to you, let's start with traders who are betting today's U.S. inflation data could boost the case for a down shift in fed rate rises in the coming months. Meanwhile, Boston fed president Susan Collins has told The New York Times she's leaning towards a quarter point rate hike at the Central Bank's next meeting. Collins doesn't have a vote this year in monetary policy decisions, but she will take part in deliberations. Now Russia has named a new commander of its forces over in Ukraine in its later shift of military leadership since the war did start. Chief of the general staff Valerie garra simov is the new head of the nation's combined forces. It comes as a war comes closer to its one year mark, a far cry from the speedy conquest Russia did envision, and BlackRock will cut about 500 jobs as the investment firm does grapple with sharp declines in equity and bond markets. The world's biggest asset manager says the cuts will affect 2.5% of its global workforce, although that will still leave the headcount higher year on year. Global news, 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. I'm leann gerrans, this is Bloomberg, Stephen. Leon, thank you very much all this morning we've had results in the chip giant the Taiwan Semiconductor manufacturing company bucking the trend reporting a quarterly profit base net income climbing by
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"In Los Angeles. A letter signed by John Lennon on the day of his murder is selling for over $60,000. The document dated December 8th, 1980, is the last document Lennon signed before he was murdered. It was expected to sell somewhere between 30 and 50 grand, but a flurry of last minute bidders pushed the final price to just under $64,000 and speaking of John Lennon and other music history news on this date back in 1963, The Beatles were in studio, completing their final session for their second album with The Beatles, recording I want to be your man, the fab four, then drove to the London airport for a flight to Stockholm, Sweden, to start their first foreign tour. I'm Chris Craig And I'm Doug prisoner at Bloomberg world headquarters in New York. Let's check this hour's top business stories on the markets. Well, after a delayed release, we have some Chinese economic data to contend with. Some of which topped forecast GDP as an example grew at a rate in Q three of 3.9%. The estimate was looking for 3.3% separately industrial output in the month of September rose by 6.3%. Now the estimate was only looking for a growth rate year on year of 4.8%. In the minus column retail sales were disappointing, though, rising just two and a half percent in September year over year and home sales down by more than 15% in the month of September. Well, the British pound has strengthened against the greenback after Boris Johnson pulled out of the race to become Britain's next prime minister, Sterling right now, better by 7 tenths of 1% against the dollar trading a dollar 13, 13, and we're seeing tremendous volatility in the Japanese yen last Friday the yen rallied in New York trading by about 1.7% after Japanese authorities intervened through prop up the currency right now though the yen is weak one 49 pretty much on the money, Reuters was reporting a short while ago the traders suspected more intervention today from the bank of Japan. Tech stocks in Hong Kong meantime are selling off after the move by Chinese president Xi to essentially control more power created a little bit more risk in markets as an example Alibaba shares are down about 9 and a half percent right now, and Taiwan Semiconductor has suspended production of advanced silicon for the Chinese startup Byron technology with the aim of ensuring compliance with new U.S. regulations. We check markets every 15 minutes here on Bloomberg. Right now in Hong Kong, the hang seng down nearly four and a half percent, the nikkei though higher by 1% Cosby up 1.3%. This is Bloomberg. This is Bloomberg intelligence. We're really getting into now this streaming's arms race. The issues looking at that and saying we can really build a nice inch for ourselves. In the research and data on 2000 companies and 130 industry. The dollar is the dominant content and the planet. I think the opposition is now turning progression of what Microsoft can do with this technology going forward. Bloomberg didn't tell with Alex Steele and Paul Sweeney on Bloomberg radio. Over the next hour, we're going to dig inside the big business stories impacting Wall Street and a global markets. Each and every week we provide in depth research and data on some of the 2000 companies 130 industries our analysts cover worldwide. Today we're going to take
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"I'm Emily Chang in San Francisco and this is Bloomberg technology coming up in the next hour. Tech stocks turn sharply lower as the semiconductor slowdown takes the industry down with it. We're going to have more on the warnings from chipmakers and when we might see a recovery. Plus, the gig economy faces a new reality after the Labor Department proposes some gig workers be classified as employees, sending shares of Uber down more than 15%. We're going to talk about what it means for Uber Lyft DoorDash and more. And we get a glimpse into Mark Zuckerberg's vision for the metaverse. The company is leaning into the virtual workplace with new partnerships with zoom and Microsoft, Zuckerberg also unveiling the new quest pro headset and showing off his avatar legs. All that in a moment, but first let's get a look at the markets with Bloomberg's Taylor Riggs and Taylor ouch, tech. Going from bad to worse here. Yeah, Emily sort of feels like deja vu when I stood here in front of you yesterday. It was sort of another day of some significant pressure for the general major averages underway. As you can see here in S&P and NASDAQ and the chip makers, again, as you mentioned in that introduction of another two and a half percent, and yes, guilds, the bond market reopened today, but yields are climbing and that is also putting further pressure on some of those long duration assets as well. Change up the board and I wanted to mention a lot about the chipmakers Emily to kick you off for the show. A four day losing streak here now for the socks that is the big chip maker index underway. Some of the worst sort of losing strings that we've had within the last four days alone, you're now looking at a 12% sell off. I know that you'll dive deeper into that story but really further fallout from more of the restrictions around the chip makers and what it means for some of that business and that revenue, of course, in China. Flip up the board and I wanted to also sort of broaden out and take a look at the NASDAQ 100. Now this was a 5 day losing streak for the NASDAQ and the NASDAQ 100. Some of the worst losing streaks that we've seen this year. And again, take it out some of the key technical levels as well when you think about hitting the lows that we had earlier this year. And now going back to Lowe's, we haven't seen since about March of 2020. So from its technical as well as some of the fundamental standpoint as well, NASDAQ and those tech big companies also being eyed and looked at. Finally, Emily, let's just take up and take a look at some of these individual stocks. I'm just going to jump back down to the bottom two with Uber and Lyft. Huge research notes from the street coming out today. Saying that they're looking at maybe the ram that vacations, the Labor Department, at least on the federal level, issuing some guidelines about how to treat gig workers if they're not contractors and they're full-time employees. How does that impact the revenue and the expenses, of course, of these companies, Uber and Lyft a few of those under pressure today? All right, Taylor, thanks so much. An improvement on deja vu indeed. Okay, hundreds of billions of dollars have been wiped off the chip industry following a worldwide drop in demand for reference, Taiwan Semiconductor, the most valuable chip maker in the world, suffering its biggest drop since 1994. For more, let's bring back our Bloomberg intelligence senior analyst, Wu Jin Ho who's been of course following all the moves and chips. And you know, we were talking about a potential glut in supply for months, but it seems to have taken everyone by surprise, just this idea that we didn't have enough, and now we have too much. You know, why is this all happened so fast? Sure, so thanks for having me on, again, I'm Melissa. So a couple of things, right? I think the recessionary environment, the recessionary concerns going to the 2023, have really started to hit the end markets servers, PCs, TVs, so on and so forth. And any electronic goods, that seems to be pairing back. And we saw evidence of that last quarter as with respect to AMD and Intel. They made their first round of cuts. And I think what surprised everyone else is that what we thought it was over, there was another round of cuts by micron as well as AMD. And then layer that on with the geopolitical risk, which is also weighing on TSMC. So would you say a downturn in chips is a leading or lagging indicator for the rest of the technology industry? Sure, so why don't I take you back into history if we look at pre COVID? The chip makers have an early cycle has always been an early cycle industry. And they were the first one to come down once COVID hit. But once we figured out that COVID was not going to be as bad as initially thought they were the first ones to come back up from a valuation perspective, right? It's going to take a while for estimates to catch up. So I know that there were a couple of rounds of cuts on the chip sector already. But even at 14 times, it's still not a trough multiples going back to 2018. It still 17 17% premium to Trump multiple. So there's still maybe another round of earnings because to reflect 2023 expectations. Which companies are in the worst position based on what chips they make and what is most, you know, the most in oversupply. Sure, so if we think about it from an end market perspective, companies that are over indexed on the consumer side are hurt. And one of the reasons why TSMC is hurt so badly is because some of the leading manufacturers rely on TSMC as fabs and think about it Apple, smartphone manufacturers, as well as AMD. For their PCs chips. So those three buckets alone is going to create that slide. I think if you think about companies that manufacture their own chips, you have companies like analog devices that do not have as much consumer exposure, but they do have a fair amount of consumer exposure as well that may see a negative impact as well as companies like Nvidia that's already warned on weakness on the consumer side. All right. Thank you for helping us work through all of this new information our Bloomberg senior intelligence analyst appreciate it. Meantime, a new proposal from the Biden administration will classify millions of gig workers as employees rather than independent contractors. That could have extreme repercussions for companies like Uber and Lyft, which plunged on this news. Let's bring in Bloomberg's Jackie Davos, so Jackie, tell us exactly what this new law involved and how it would impact the companies that you cover. So the proposal would just still being considered is essentially a new outline for how companies can determine whether their workers are independent contractors or employees, which carry certain legal and wage benefits, things like dental and medical. We all enjoy those
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"3800. And some of the interesting calls that we've actually heard to the downside, looking more towards a 33 or 3400, of course, if some of the economic data starts to roll over, at least for now, it looks like for the actual markets, not the economic data. You're going to get a Dow Jones that closes this more the underperformer, you off about one half of 1%. And S&P may be on the day, you're down about 11 or 12 points, but you're only off about three tenths of 1%. Carol, for me, it is big tech. Is this more of the new classic safe haven right with the NASDAQ and the NASDAQ 100, the clear outperformers? Yeah, fascinating, right? To see it just kind of edge into the green here. Internals are what we like to talk about, and I'm just going to go back to the large caps, the S&P 500. If you dig a little bit deeper, you still see that much more negative sentiment. Katie, I have 353 names in that index lower on the day, a 150 higher. So still more of them having some struggling in today's session. And if you take a look under the hood at some of the industry groups, you do see that negative sentiment too if you look at what is leading, you do have food and some of those Staples names. That a lot of that though is Costco. Again, moving higher on the heels of that upgrade that they got from Deutsche Bank. You do have semis getting a bid as well Qualcomm, some of the other big chip makers have really been a bright spot in this market so far this week. But then if you look at what isn't doing too well, you've got more red bars than green bars and right at the bottom you can see the banks, of course, as we finally do kick off into earnings season. You also have energy materials and some of the insurance seems there well as well Carol. All right, so Katie, so let's get to some. Let's drill down even a little bit deeper into some of the individual names. So I'm going to get to the gainers and Katie mentioned some of them. First of all, I want to mention TSM Taiwan Semiconductor manufacturing. We got some news overnight. This is apple's most important chip maker. And they did give a little bit of a warning, but they did raise its 2022 revenue forecast. They did warn at the same time that it will trim spending on expansion by as much as 9%, but nonetheless, TSM up about 3% in today's session. All right, Costco, we heard that from Katie, top in the S&P 500 and the NASDAQ 100, holding on to its gains really for the most part for the day up about 4% today. Deutsche Bank upgrading to buy from hold, the analyst they are writing, Costco is one of the most consistent operators in our group and it's steady traffic gains and high membership renewal rates serve as key differentiators in an increasingly uncertain backdrop. So talk about an endorsement. And then let's get to Qualcomm. It was up about 4.6% top of the NASDAQ 100. Number one in the S&P 500, the JPMorgan analyst over there saying reiterating its overweight rating, but put the company on the firm's analyst focus list. And here's what they had to say. It was a valuation called Taylor. They said the stack offers a large potential upside for investors if Qualcomm continues to gain shares against competitors. So a little bit of an if, but nonetheless, that stack up four points. I'm going to give you another sort of big fundamental mover here. Carol, take a look at shares of Pinterest at one point spiking up about 19%. This is after a report from Dow Jones that Elliott management has taken a more than 9% stake in that company. So again, jumping after Ellie management according to reports from Dow Jones, maybe studying his sights on Pinterest, Tim certainly a huge mover now to the upside in post market. Now 25%. Yeah, as Dow Jones reminds us though that one of the cofounders of Pinterest spent silverman who stepped down just a few months ago for Bill ready to take over. He has quite a big voting stake in the company. So we'll see what Elliot could do when it comes to forcing changes there. We'll keep an eye on Pinterest, shares hired by 25%. Right now, let's talk about some of the decliners in today's market. JPMorgan Chase, finishing the day down by 3.5%, closing at its lowest level since November of 2020. We've been talking about it all day. The company halting share buybacks, earnings missed estimates. The company did also add $428 million that it sets aside for potentially sour loans, reflecting a quote modest deterioration in the economic outlook. Morgan Stanley also finished in the day down just fractionally four tenths of 1%. It was down nearly 4% earlier in the day after it reported worse than expected second quarter results finale, including revenue of 13.1 billion compared to expectations for 13.3 billion. And all you were on that call, what were your takeaways? Yeah, there were a few things here, and it was how uncertain the second half of the year is, Tim, however, even with those uncertainties, you're seeing the trading businesses, the wealth businesses hold up a lot better than the consumer focused businesses, even though that trading environment is still uncertain. I've got to say, since the high of last year, JPMorgan has lost more than $200 billion worth of its market value. That's a lot. Yes, definitely a lot. And you are seeing so many banks now trading below their book value. And you know, we haven't seen the worst of it potentially yet. There's a lot of expectations here among Wall Street analysts that provisions for loan losses will start to rise more as the year goes on, we have not seen the face of a recession yet. All right, and we still have many banks to hear from not just the big ones coming up tomorrow and next week, but of course also the regionals that we continue to hear from. Taylor I want to check in on one more novavax giving up that recent rally shares falling today by more than 25% after regulators in the EU updated the product label to include information about a severe allergic reaction. Look at that down 26% today. I want to do yields as well. When you think about sort of a big story that we've had today, it's been all about sort of finding some direction, right? Within these markets, you bond deals at least on a two year yield coming down by about two basis points further out. On the 5s and the tens actually rising. So bond markets searching for directions. Yeah, I also want to get to some breaking news here too because this is a big deal, a big move alphabet is adding former Goldman Sachs, chief financial officer, Martin Chavez, to its board. Remember Marty Chavez was known for helping Goldman Sachs really transform on the technology front and alphabet as we know as one of those tech companies with a lot of financial ambitions. Marty now works at 6th street, which is a big private investment manager at the world is getting quite interesting on the talent front, guys. What's the implications of this? Like I think about board members, right when they announced it, this is, I guess, the first change to the alphabet board since 2020, that's when we saw Eric Schmidt depart the board. So what are the implications? What does this mean potentially in terms of what alphabet does going forward? Yeah, it's a great question, too. And you mentioned Eric Schmidt Eric Schmidt and Marty actually know each other very well. But you have to wonder what the broader ambitions are here for alphabet to get deeper into financial services. Even cryptocurrencies. Marty was one of the first people really to talk to me at length about digital assets at scale across the world. And you know, he thinks a lot about cybersecurity. We think a lot about what he worries about him things about both from his former perch at Goldman. And now on the board of Alphabet as he joins worrying about cyber said. And if we think about some of the other big after hours news we got, I want to go back to Pinterest. We're getting a little bit more details. This is, of course, Dow Jones reporting Elliot taking a more than 9% stake in Pinterest and you look at Pinterest shares after hours. Now a more than 20%, 21%, a lot of movement in these after hours. I also wonder how much you short covering, right? It was what about 8 and a half percent of the outstanding float was short. I mean, this stock has been hammered down to about 51% so far this year. So you think about the scrambling that's going on just from a trading perspective, right? There had been some fundamentals. We've talked a lot about sort of the new face of these social media companies in this post COVID world and Tim, I hate to sort of push this forward to next week as well. We're going to get from Netflix. Again, not social media, but more when we think about sort of these classic state home stocks, snap, of course I know that you've been all over that stock in your coverage in the previous years about how the consumers are consuming the health of the consumer and how in this reopening trade we think about these traditional sort of stocks and ecommerce as well. No, but you make a really good point about Netflix Taylor because if we think back to three months ago where we were, it was sort of the canary in the coal mine for the decline that we saw
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"Pockets in the market financials notably that have been underperforming and a rising rate environment which seems kind of anomalous to me so I'm hoping good numbers positive outlooks from a lot of these banks might set them back on course and particularly for IT which has just been a big lag or despite excellent excellent earnings growth quarter after quarter hopefully we'll see some positive momentum to the higher quality tech names when they report results Yeah a lot of them have been struggling due to kind of where rates are and where the yields are continuing to melt up Do you think in terms of what we've been seeing in the bond market have we reached that sort of peak hawkishness already Or is there even a concern that there's too much tightening being priced in now Yeah it's a good point of vine And you know I would have said a couple of weeks ago we were at peacock Ness and that certainly has not quite been the case but I think at this point where we're looking at 8 or 9 rate hikes baked in there's debate now You just mentioned on the program before for potentially multiple 50 basis point hikes going forward I think that just reflects the uncertainty with respect to inflation I think inflationary pressures were probably going to see peak after we get Q one results and hopefully as the economy starts to normalize People start making the switch and consumption from goods to services I think we're already seeing that plan a little bit I think that might provide a little bit of relief and the fact that labor force participation is finally starting to tick up I think we're slowly moving in the right direction But as long as we can keep seeing that trend I don't necessarily know if all of those very very hawkish projections will need to play out I want to get your take on China but I'm going to give you 30 seconds to answer this next question in terms of the COVID lockdowns that we have seen on the mainland How much are they a complicating factor They're definitely a complicating factor Global supply chains are a big issue And I think it leaves some Asian equity markets particularly vulnerable I've said Japan and South Korea most notably One of the interesting things in the last week particularly on Friday we had weakness in the Philadelphia semiconductor index I think for the last let's see four days maybe the chip stocks were down a round 11% That was curious to me because Taiwan Semiconductor reported record revenue so maybe it is concerned about supply chain restrictions in places like Shanghai.
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"Bloomberg business weeks magazine it's all about the year ahead issue Those things to keep on your radar in 2022 and to that includes a course the semiconductor space big story last year it's going to continue to be so this year innovation disruptors and just plain old competition playing its way out Yeah the big question is who reigns supreme and how about the long time of chip making or king of chip making Does it remain king We have our own king of chip making We do It's in king He's U.S. semiconductor at networking reporter at Bloomberg news Let's talk a little bit about Intel because the company is on the brink of losing its status as the world's largest chip maker I thought that gelsinger came back to Intel to prevent this from happening Yeah no that's what he's been talking about He's very very focused on basically restoring Intel to its dominance You remember when he left in 2009 until it was at the peak of its powers It was the largest chip maker by market value the largest maker by revenue the leader in terms of technology the plants the best profit margins it really was a leader and now it's not It's arguably going to lose the last of those titles which is the one by revenue in 2002 1021 And really everything that he said since he took over last year is look I'm going to get Intel back I'm going to put Intel back where it belongs So hey Ian it's still going to be a dominant player until that is But what's the significance of Intel and the history of what it has done in terms of chip making and just really Silicon Valley How is that just kind of remarkable in terms of this shift Intel basically taught the industry that these are the economics that matter Moore's Law that everybody quotes Gordon Moore the founder of Intel It's about economics It's about scale It's about speed Intel has always had the most capital to deploy It's always moved faster It's always made it difficult for the opposition to keep up Now it's facing and we talked about Samsung and the story but also TSMC in Taiwan Companies that have as much access to capital that are deploying as much capital that are running just as fast as Intel and they're enabling lots of other companies who they manufacture for to compete and to take market share away from Intel clearly that's not good for intelligent As you say it's still a huge company $70 billion of revenue is not to be sniffed at But that kind of lead that ability to say hey here we are You need to come chase me and this is the pain that is involved in chasing me That's gone away What do analysts say about Intel's ability or pat Gaussian earns ability to pull this off Yeah Initially when he came back to Intel last February said all the right things said look this isn't good enough This is not Intel Mismanagement that's been gone on while I've been away I'm going to reverse that Intel is back very much beating is first on his chest and using a lot of the throwbacks to Intel's prior leadership in terms of the messaging But then what became clear as Intel reported earnings averaged like a 7% decline on the day after every earnings was released because those earnings were showing margins narrowing on guess what we're going to spend a lot of money to get us back and so what's really going on is saying the right things making the right decisions arguably but at the same time showing what the cost is and the amount of time it might take to get Intel back to leadership Hey Ian in a world where so much of the global economy is all about services and certainly for the United States we don't make a lot of stuff anymore But the opportunity with a company like Intel where we actually make something how important is that to the United States And I think about government intervention or government assistance here in making sure that we're still making something in this global economy Yeah I mean if you ought to view it from a nation centric point of view and Gaussian has certainly one of those that does soup So the chip industry is enormously important It's a fundamental piece of technology that underpins everything And the U.S. the ability to manufacture that is really centered in only Intel and a bit in micron Everybody else kind of doesn't do it anymore It's done by Samsung It's done by TSMC Those are arguably the leaders right now And what Gaussian has argued and gained some traction with politicians who listening to him saying look we don't have this We lose that ability It's not something you can just get back You know it's based on knowledge It's based on experience And if that's going away maybe it's gone for good And he's really trying to do something about that That was Ian king Bloomberg news U.S. semiconductor and networking reporter And we also heard this week that Taiwan Semiconductor will be spending at least $40 billion to address the ongoing chip shortage That's above what Wall Street was forecasting And that's the latest salvo from.
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"From the pandemic Now that may be slower to return but there is still some room there to move the needle in terms of bringing labor free participation higher You know what what it brings up for me Robert is a question about what cynics or critics call the plunge protection team Because a lot of people the plunge protection team the idea that the fed is freak out when markets fall And come back and be very supportive And the reason that I think it's an important question now is if you've got these three four 5 million people that decided they could retire early A part of that was how well they'd done in the markets People gave Wilson from a Bloomberg news I mean we all know people I think who have done so well in the markets And of course they saved early and they put money away And that was smart But the reason they were able to step away is that we were up 27% last year We were up 18% in 2020 We were up 29% in 2019 And if you see a 20% correction can the fed really continue to fight inflation by staying on the path to rising rates or does it have to capitulate and come in and save shareholders that are at risk Well that's a really great question And I think we have to begin from a starting point where the fed is moving towards tightening monetary policy and one of the reasons that is allowing them to do so is that financial conditions remain extraordinarily accommodative And by that I mean movements in markets that we've seen over the last year the current state of how financial markets are interacting with the economy It's supportive for growth So exactly as you described household wealth is higher Just the overall state of markets is supportive for the economy And this is the fed that's looking to dial back the amount of support that it's providing for the economy And so it's likely to be a fed that's accepting of some tightening and financial conditions whether that comes from lower equity valuations higher rates stronger dollar just the general backdrop of financial conditions may need to snug up a little bit in order to get the economy take some of the steam out of the economy and take some of the steam out of inflation as well So I think that may come as a surprise to some people is that the fed might not be there to respond to every hiccup in the market when they are looking to get to a backdrop where financial conditions are at least more neutral in terms of how they're interacting with the economy All right Robert thank you so much for joining us We really appreciate getting some of your time I'm sure you're busy these days thinking about where this economy is going Robert Rosen executive director He's a senior U.S. economist with our good friends at Morgan Stanley here in midtown Manhattan Right now let's go to Greg Jarrett on the West Coast and get a Bloomberg business left Greg Before we have got a couple of the indexes in the red one in the green we're being told that the mega caps like Tesla and Microsoft are the ones causing the red to show up on the screen Of a race games that were earlier driven by Taiwan Semiconductor.
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"Final year of his contract after leaving St. Louis to three straight playoff appearances Meanwhile the New York Yankees have let three coaches go third base coach Phil Nevin along with hitting instructors Marcus tims and PJ Pilates I'm Dan Schwartzman that your Bloomberg world sports have aid Markets headlines and breaking news 24 hours a day at Bloomberg dot com the Bloomberg business app and at Bloomberg quick take He's a Bloomberg business lash Hi everybody 13 minutes before the top of the hour we take a look at markets every 15 minutes here on Bloomberg radio All throughout the trading day Well Asian stocks pushed higher this morning after a rally on Wall Street stocks gained there on strong corporate earnings Those robust results took some of the focus away from inflation and all those risks in the global economy Let's take a look at a couple of winners Taiwan Semiconductor had forecast fourth quarter sales and margins that exceeded some analyst estimates And we're seeing a pretty solid rally this morning 3.5% up for Taiwan semi in the Hong Kong market Nataya itself is up 1.6% lifted by that Singapore up about a third of 1% The hanxing index has been chopping around a little bit It's now up about a tenth of 1% tech stocks in Hong Kong up about three quarters of a percent And the CSI 300 which had traded lower in the first few minutes of trade Now up a little bit up about a tenth of 1% More solid rallies can be found in Seoul We mentioned that the Cosby had gained about 6 tenths of a percent the nikkei up 9 tenths of a percent and the ASX 200 up about four tenths of a percent One of the interesting stories was that we got more word from China that it would crack down on another sector It's online Chinese brokers a couple of them foo two and up FinTech do trade in the United States and fu too was down 12% and up FinTech was down 21% WTI crude is rallying up another three tenths of a percent 81 54 a barrel See quite a bit of strength in the offshore Chinese currency The CNH had 6 43 44 Similar levels for the onshore currency and briefly gold prices now just under $1800 in 1797 a tryout and that is your look at markets And Baxter with news in San Francisco all.
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"Spring the energy crisis has already adversely impacted China's manufacturing industry during its official manufacturing PMI contracting in September for the first time since the pandemic began All right the time now is 33 minutes past the hour Let's get to the markets We've been talking about them We got the prisoner who's tracking them for us So what really stands out for you this morning Well I think you've got to begin with the earnings story right You mentioned Bank of America today Morgan Stanley was also on that list and those shares were up two and a half percent And if you take a step back and look at the financials today the S&P financials index was up about 1.7% So the earnings story one thread here The other has to do with the reading that we got on core wholesale inflation very tame number We were only up two tenths of 1% That is unlikely though to dissuade the fed from adopting what we've been describing as a kind of a hawkish pivot The last thing I think we can agree on the fed would like to do is to fall behind the curve and so with a notion that we're going to see a more proactive not quite completely aggressive fed but enough to satisfy the long end of the treasury curve that inflation is not going to get out of control So long rates were down today by about two and a half basis points One 51 on the U.S. ten year Now we also had strengthen among the chip makers That was after a bullish forecast from Taiwan Semiconductor the Philadelphia semiconductor index today was up 3% So if you look at where we were overall with the major equity benchmarks the Dow higher by nearly 1.6% today the S&P up 1.7% similar gain for the NASDAQ composite We had crude oil pushing higher by more than 1% in New York U.S. inventories were the biggest decline in stockpiles at the Cushing storage hub since about June Right now we're trading 81 47 in the electronic session Alcoa's numbers after the bell on the top and bottom line above estimates the company also announced its first dividend since 2016 and announced a stock buyback program worth about $500 million Shares right now up by more than 5% in late U.S. trading Brian you indicated that the market in Hong Kong will be back after a two day break We get set for trading in Asia We're looking at a weaker dollar and a much weaker yen I'm seeing Chicago nikkei futures right now Rashad about 300 points above where we were yesterday and the cash market Let's check the time and just coming up to what 24 minutes to the top of the hour Japan is now prepared for the October 31st general election or to play for at Baxter as global news Yeah very they're ready.
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"Giant may tuan of course off the bat you have some of those Chinese ADRs doing quite well Alibaba at the top of the pack digger BA BA as well as some of the semiconductor companies ticker TSM the Taiwan Semiconductor manufacturing company also trading higher in sympathy The commodities rally showing up in ADRs as well Rio tinto RIO and BP ticker BP also in on the rally And I want to end Charlie with one of the worst performers in the ADR index and that is PAG seguro from saying that right they'll share slumping as much as 15% on Monday The Brazilian FinTech company on pace for their worst two day drop ever after Brazil's Central Bank announced a public consultation on Friday about Kathy fees at 0.5% on prepaid card transactions that ticker P a GS One of the worst performers on the day Charlie We thank you very much pretty Gupta So again recapping here stocks just turning negative S&P down by one point little change the Dow also little change down now by 15 NASDAQ up 17 I'm Charlie pellet that is a Bloomberg business flash This is balance and power with David Weston This entire year climate has been on the minds of so many people We have a generational obligation to transition to clean and renewable energy Where the world of politics meets the world of business Clearly as a country we're working away both out of this health pandemic with this economic pandemic as well 55,000 bridges in the United States right now that are structurally positioned Think about that Balance of power with David Weston on Bloomberg radio The IMF meets in Washington with the future of its leader hanging in the balance Another week without an infrastructure deal What does that mean We are missing And what will it take.
Daily Tech Headlines
A Closer Look at How Semiconductors Are Made
"Friday we talked about bismuth being used to make semiconductors below one nanometer using a helium ion beam lithography system. This comes from a study published in nature by taiwan semiconductor manufacturing company. Mit and national taiwan. University semiconductors can be super complicated. So let's take a closer look. A semiconductor is a material that has an electrical conductivity value between that of a conductor and insulator it's registered city falls as the temperature rises behaving in the opposite way of metal. Semiconductors like silicon are the basis of most modern electron electroncs. The electrical properties of a semiconductor material can be modified by doping it that is applying electrical fields or light which can be used for amplification switching and energy conversion currently semiconductor design uses five nanometer and three nanometer node. With the number of transistors piled on chip nearing physical limitations. Moore's law observes that the number of transistors in dense integrated circuit doubles every two years. However there is still an eventual maximum capacity using atomic lee. Thin materials. Instead of silicon. Could help delay reaching maximum. But the problem of the energy barrier formed between the metal electrode and the semiconductor interface of these thin materials continues to constrain semiconductor design improvement in the nature study. The scientists found that by downscaling the semiconductor below one nanometer roughly the thickness of three atom layers they could create a two dimensional material pushing semiconductors to the quantum limit and potentially surpassing the prediction of moore's law by resolving one of the biggest problems and miniaturising semiconductor devices. The two-dimensional semiconductor also makes the energy barrier negligible by using bismuth which is a semi metal. Meaning that it has lower electric and thermal conductivity than a metal to make these. Semiconductors the optimized the chemical vapor deposition of bismuth and then shrank channel material to the nanno scale using helium. I am being with agassi. This study recorded the lowest energy barrier resistance ever at one hundred and twenty three arms as well as the highest current density to date of one thousand one hundred and thirty five micrograms per meter. This technology proves the potential of malaria transistors as being on par with the most recent three d. semiconductors it will allow for future device downscaling possibly bringing about a new generation of semiconductors experimental. Physics research will benefit from this technology immediately but commercialisation. We'll have to wait for more engineering work though it will be years before this technology could become mainstream future. Applications include cutting the carbon footprint of data centers quadrupling cell phone battery life speeding-up laptops and contributing to higher performance. Ai
Ernie Brown
Taiwan Chip Maker TSMC to Invest $100b to Grow Capacity
"Maker of semiconductor chips. Taiwan Semiconductor manufacturing company says its investing $100 billion of the next three years to beef up production capacity. The company says this is an effort to keep up with demand as the global shortage of semiconductor chips continues.
Bloomberg Law
Taiwan chip maker TSMC to invest $100B to grow capacity
"Taiwan Semiconductor plans to spend $100 billion over the next three years to expand its chip fabrication capacity. SMC plan to record capital expenditure of as much as 28 billion this year. But recent trends and developments have pushed for even larger capacity. The stock is trading up 2% in Taiwan this
Latest In Tech News
Apple Getting Into Augmented Reality
"New report stating at apple will release mixed reality headset in twenty twenty two and a are glasses by twenty twenty five litres rumblings over apple's planned venture into augmented reality. Virtual reality mixed reality have been getting louder recently. We now have a series of dates for those devices by cater mainichi quo a good source of reliable track record on all things apple in research note with t.f. International securities obtained by macrumors will states. That apple will release an m. r. helmet type product by twenty twenty two an ar glasses type product by twenty twenty five in an air contact lens type product by twenty. Thirty or twenty forty. Didn't have a lot to say about the apple. Contact lenses stated netherlands will bring electronics from the era of visible computing to invisible computing. He added that is no visibility for the product as of now. But we predict apple's m. r. a. our product roadmap includes three phases helmet type by twenty twenty two glasses type by twenty twenty five and contact lens type by twenty thirty twenty forty before the helmet product provide ar vr experiences while glasses and contact lens. Type of products are more likely to focus on a our applications. When it comes to the headset though is a lot more to say there in terms of size yan located at the several prototypes been working on way between point four. two point. Six pounds over their apparent goal is to reduce the way to between point to two point. Four which would make companies had a lot lighter than many existing devices will also be portable will stated in report and have independent computing power and storage nonetheless. It doesn't mean that it will be truly mobile like an iphone. At least that i will say that. He expects to helmet to improve mobility as technology improves. You also added weight to the rumor. That apple's headset will be equipped with sophisticated micro led displays. The company is working with sony on this. He said which is in contrast to previous reports that say apple is working with taiwan semiconductor manufacturing co. with the micro oily displays and central optical modules. The headset will be able to provide a see through a are experienced as low as a vr experience. Here's the thing. Why should you buy apples. Mr headset when there are a lot less expensive options to choose from. Here's why although apple has been focusing on a are we think harbor specifications of this product can provide an immersive experience is significantly better than existing. vr products. We believe that apple may highly integrate this helmet with video related applications for example apple tv plus may be apple arcade etc as one of the key selling points and he's also stating added is expected to cost around one thousand dollars in the us but as far as the glasses go which are expected to provide an optical see through experience expected twenty twenty five launch at the
Odd Lots
This Is How the World Ended up with a Shortage of Semiconductors
"Show tracy long time ago now feels like we had the joke about. Should we just turn this into a semiconductor podcast. Yes and you've you've really run with that joke okay. The thing is is he can't escape it like we keep things like know we liked. I started talking about is like this is like an interesting topic for us but it turns out little. Did we know when we first started covering this story on the podcast which i was last october last november that actually it would blow up into this huge issue. Semi conductor manufacturing became like essentially. Nash topic of national news. Far outside the sort of like the niche audience right. Semiconductors secretly rule. All our lives. And i'm i'm joking. Obviously but nowadays everything is so high tech that there are a lot of appliances that you wouldn't necessarily think of that have chips in them So smartphones computers things like that obviously but also lots of cars And i saw one headline float by. I haven't had a chance to read it yet but something about aluminum producer's warning of downturn So chips are everywhere. And i think were really starting to realize how important they are and also how important chipmakers are of course as we've been discussing there's a limited number of Right so anyone who sort of listened to our series. We started talking about the decline of intel. We talked about why. Us manufacturing in general is sort of Gone away and we talked of course about the dominant role of taiwan semi. And it's like almost like again. It was not intentional. But now there's like this huge thing and everyone is waking up to how dependent we all are on taiwan semiconductor and a few other major Fabs and it's a it's become a legit. Us national security question. We know the biden administration is looking at it and you know looking at different ways to reduce us dependent so we really can't get away from the story and obviously we're going to be talking about it again today and i bet it won't even be the last time we talk about it. Thank you might be right on that one. So i'm really excited because actually we're going to be Going back to our very first guest to Gave us sort of great overview. Some of the best Clear english descriptions of the challenges of chip manufacturing and it was the first one everyone should go back. And listen to that one. Then talking about the decline of intel. But we're going to zoom out a little bit and look at the acute that the world is facing right now. Why are so many companies struggling with their ability to source chips and then the longer term issue of this is scarce capacity is scarce and even if we get through this current phase there is going to be still this sort of perhaps a dangerous over reliance on a few manufacturers that our capacity limited so a very excited. We're going to be speaking again. Second time on the show. Stacey raskin his managing director senior analyst. Use semiconductors at bruce dean research Stacey thank you so much for coming back on lot at stake. Tastic be back. Thank you for having again. What's it like you know. You're like a star now. Because one point semiconductors were just like this thing that maybe investors mostly cared about but it really does feel like an you know. Correct me if i'm wrong but it really does feel like in the last few months. Everybody is now obsessed with this story. I think i may have mentioned this last time. I was on but i. There's one reason. I love this space. It's literally ground zero for everything that's been going on. And it's it's you know it's not just the last few months the trade and that briar s and then the the the burgeoning geopolitics and now obviously the shortages. And everything else like. It's and you remember. I mean like the global electronic like enterprise. I mean it's like a four or five trillion dollar industry worldwide. If you add up all the pc's and and and and all of the consumer electronics and then all the services and software and everything that goes with it trillions and trillions of dollars in it all rests on semiconductors semi's or the fundament of all of that like we don't have any of that without semiconductors and so i think it's a phenomenal place to to spend time and it's job security for me so that's yeah that's that's the most important
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"Really need? We're gassing. You said information. GOP and Democratic leaders have reached a deal or maybe a specified and said Bloomberg did break. How do you see the impeachment trial affecting stimulus negotiations? We should have expect Did that Karen Moscow and Nathan Hager. That's what President Biden wants as well. Weekday mornings advised Eastern on Bloomberg Radio, The Bloomberg business APP and Bloomberg Radio. Com. Bloomberg, the world is listening. Thistles balance of power on Bloomberg Television radio is business owners everywhere know their employees are now ruling to work from home or remotely has both some benefits and some challenges. Microsoft is trying to overcome the obstacles with a new product called Viva Microsoft CEO. Such an Adela spoke to Bloomberg exclusively about it earlier. Putting these things all together the employee engagement, learning collaboration and well being into one experience. Platform is what Viva is all about. On. I think that this represents a new category creation moment. If you look at what we've the journey we've been on with Microsoft 365. We started with individual tools. It became a collaboration. Sweet on now we think it's going to come really get into a new space around. Employees experience more holistically thinking about productivity, not just narrowly as output. But all of learning and well being and collaboration form or on the work from home culture and how it is affecting the demand for chips. We welcome now Bloomberg's Emma Chandra, so as far as I can tell, people want more than the companies can produce. That Is it In a nutshell. David and I wanted to talk about specifically Qualcomm out with earnings revenue, blowing it out of the water, Huge, increasing revenue versus a year before, But yet we're seeing the stock tumble today down around 10%. At the lows, in fact, hitting its lowest level in about eight weeks for Qualcomm. And the reason is this concern about supply a huge demand for chips. But Qualcomm not able to keep up with that demand, and this is, of course, because they also outsource their chip making capabilities to the lights of Taiwan Semiconductor also sounds like and those companies not able to ramp up production. In the wave is necessary in order to deal with this huge demand for chips, and it is related to the global pandemic and the fact that we're seeing more people working from home or people buying and using devices that require these chips that we heard from Apple, of course say that they demand for the iPhone. 12 is huge, but they don't can't get enough chips, right? It's not just working from home on computers there with the pandemic, of course, more people buying and using cars as they avoid public transport. And so we're hearing from the automakers that likes a Ford GM, saying that they're not able to ramp up production in the same way because they can't get the chips they need for cars, which are, of course, increasing these smart and so we're seeing this big demand for chips but not able to meet that. We are hearing from the companies. The second half of 2021. We should see that supply come back and that the demand may be able to be met by the second half of this year, David So hopefully we'll see a change in the story then and certainly if you look at this socks at the semiconductor index for this year. Out its best besting the border market. David as you, perhaps that's looking at what we might expect in the future. Sounds like there's a fear my capital investment coming online. At some point here, they have to really build things. Thanks so much that Bloomberg's Emma Chandor for that report on the microchip business coming up here, we're gonna talk about the economic challenges Europe is facing from United.
Odd Lots
The Story of How TSMC Came To Dominate the World
"So obviously tracy. We've been talking a lot about chips lately. But for all the episodes we've done we haven't hit like what is sort of a. I guess i would say the elephant in the room or the gorilla in the room that keeps coming up over and over again. We've been going at a. I would say from a us perspective. Very focused on the trouble at intel. But we haven't really talked about the success story. That is taiwan. Semiconductor manufacturing company better known as t s emcee. Yeah exactly right so every episode that we do it sort of comes back to them. What a juggernaut. They've become and of course you know. The sort of basic story is that manufacturing chips is extremely hard It's extremely expensive. And it's very difficult to scale until Is one of the rare companies that designs and manufactures. Its own chips. But that for a lot of these companies that are sort of exploding ri- gaining market share there Having taiwan semi manufacture them and taiwan semi is getting extremely good or is extremely good at a manufacturing and maybe Pulling away from intel some extent in terms of its manufacturing capabilities. Right and i think they actually invented the foundry model which you know this idea of just manufacturing chips which keeps coming up over and over and over again in all of our conversations as one reason the entire semiconductor industry has changed and one reason why intel is struggling but the thing i find kind of amazing like in twenty twenty one. We all take it for granted. That tsmc is this massive player in the semiconductor industry in the world. Really but i find it really really noteworthy and you know somewhat surprising. In retrospect that what is a single company on an island has emerged to really dominate chips. That are now vital to all sorts of things so computers smartphones cars. Everything i think. Tsmc manufacturers little over half of the world's chips so it's not quite a monopoly but again like they are the juggernaut in the room as he put it absolutely. And it's such a. I mean it's such a pivotal company for a lot of reasons. I mean you mentioned cars. It was just a story this week recording this january twelfth by the way there was just a story this week about how car manufacturers around the world are actually running into supply constraints because they can't get chips because of the chip manufacturers decided to reduce their production of automotive chips during the crisis in the spring on the expectation that demand wasn't going to be there and now they haven't ramped up taiwan semi They're to actually reporting earnings. This week expected to be very strong. Earnings are soaring. stock is soaring. And then of course. Because it's in the strategic position end because taiwan itself is in this Uh strategic position obviously between the us and china and the roll over its status. It's just an incredibly central player and sort of necessary to understand the story right a big player in tech big player across multiple supply chains in a bunch of different industries. Uncertainly player geopolitics as well. So we really talk more time on semi and we have the perfect guest to do that. Someone who knows all about the company who's been covering them for a long time since long before they were the dominant player They are today. We're going to be speaking to copen. He is a tech columnist at bloomberg. Opinion has been with us a bloomberg for fifteen years and he's actually been covering The tech industry from taipei specifically for the last twenty one years Everything about Taiwan semiconductor where it came from this important player so tim thank you very much for joining us. Hey thanks time guys to talk to you tim. How would you describe the importance of taiwan semiconductor in the world right now well as you assess just saying they are so huge. Tracy pointed out the creates. Such a large share of the world saw chips. There's probably not a single device in the world that doesn't have. Tsmc somewhere but whether it's a car die. Fine of course famously. But even some really unimportant boring things like temperature sense. A hiya or some led lights array there. They do serve much of the waltz products. They're they're basically everywhere and so if that would've stopped production. Tomorrow i think the global technology industry would grind to a halt very very
Business Wars Daily
The Great Microchip Shortage of 2021 Is Causing Headaches for Tech Companies, Car Manufacturers and More
"This is business wars daily on this monday january twenty fifth. Happy star the week everyone. Well we've got one of those good news bad news situations to kick off the week. I the good consumer demand for electronics like laptops five g powered phones and even tech-laden automobiles has bounced back faster than expected that means that consumers are spending again and that's good for the economy now the bad news. There's a global shortage of semiconductors. More widely known as micro chips are just chips yes. Those little electricity conductors that form the essential components virtually all consumer electronics are in short supply. And that is making it. Tough for manufacturers to meet demand and that in turn is bad for the economy now there have been periods of chip shortages in recent years but a perfect storm of circumstances makes this one especially tough to beat. According to a wall street journal report in the early days of the pandemic demand for laptops and cloud computing services surged among remote workers creating greater chip demand. Now ten months in consumer spending is loosening up especially in certain categories as new car sales began to rebound each with an average of one hundred. Semiconductors touchscreens computerized systems and other bells and whistles. Well that means a lot more chips on top of that. You got five g phone sales spiking and that means even more chips and then there's a so-called internet of things iot where everything from your refrigerator to your bathroom scale can be connected to the internet and of course you guessed it more chips which means big moves from the world's biggest chip manufacturer taiwan semiconductor manufacturing corporation or t s mc the company's making enormous investments to respond to the chip shortage and possibly emerge bigger and stronger than ever bloomberg reports that. Tsmc spent seventeen billion dollars last year to boost manufacturing capabilities. This year total spending could be more than twenty five billion to push its output even more that kind of spending would make it one of the biggest spending companies with a market value of ten billion or more in other words. The corporate wallet is wide open. But there's a method behind the mad. Spending competitors like intel. The biggest chip manufacturer in the us by sales are struggling to meet demand. The tech giant replaced it. Ceo after losing ground to us competitor. nevada Bloomberg report said that intel has been in talks to outsource some of its chip manufacturing to tsmc turning the competitor into a supplier to while it's not confirmed bloomberg analysis speculates that if tsmc can cement that outsourcing relationship intel may shift. Its focus away from its own manufacturing efforts and opt to focus on other areas of its business and become a long term revenue stream for tsmc right now though scoring everything from laptops to new cars is a struggle with some plants actually sitting idle while they wait for the chips they need or forced to pay higher prices for those that are available but if
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"You. 6 37 on Wall Street Time to take a look at stocks down some of the names moving in the pre market for that. We're joined live by Bloomberg Stocks Editor Dave Wilson Davis seen a bit of dip buying this morning a bit here and there and certainly you could say that's the case with Intel shares are up 1% in early trading. The semiconductor maker said a server chip built with its latest production process will be available in bulk this quarter after a three year delay. Also, people familiar with the matter said the company has talked with Taiwan Semiconductor Manufacturing and South Korea's Samsung Electronics about having them make some of its chips mean that's been something that's been building for the past few months. The possibility of Intel outsourcing production. You've also got a rebound and test with the shares are up 2% in early trading the electric carmakers higher after falling yesterday for the first time since December, 22nd Hasn't dropped 7.8% to end its longest winning streak. Since going public and 2010. The shares have risen for 11 straight days. They went up the total of 37% wow, so maybe a little bit and dip buying their as well. Of course, you've been talking about Twitter for the last couple of days following last week's events on Capitol Hill, and now we're see even more of a crackdown. We are the social media company band more than 70,000 accounts dedicated to Sheree the Cure non movements, conspiracy theories who was yesterday? You know the story was Twitter banning President Donald Trump from posting on his personal account that shares fell 6.4%. Yeah, And today they're rebounding, recouping some of those losses up 1.5% in early trading. There's also a Chinese biotechnology company called Day G, which is risen. 9.5% Bages signed a deal with Switzerland's Novartis to collaborate on a cancer treatment outside of China. And Novartis is going to be paying $650 million up front, potentially more than $1.5 billion in milestone payments and royalties on top of that, so you put it all together. It's certainly getting people's attention. I'll just note a headline that moved on the Bloomberg Terminal Zoom video, starting an offering of $1.5 billion of stock course, that video conferencing company really took off last year, looking at Zoom in early trading. It's dad. About 2%. All right. So the last 30 seconds here, Dave, where you could be looking at four. As the market opens this morning. Well, it really comes down to you know how much of a rebound do we get here? Isn't this case where you know what we've seen in the past several months keeps going Or is there real concern as we set up for the fourth quarter results that we start getting Thursday and Friday. Bloomberg stocks editor Dave Wilson, as always, thanks for being with us ahead of the market open and looking at stocks as a whole futures are moving higher with S and P futures.
Bloomberg Radio New York
"taiwan semiconductor" Discussed on Bloomberg Radio New York
"Market action. We've got a rally in the South Korean equities space right now, with a cost be up by more than 3.2%. The South Korean president Moon was saying that the economy will achieve fast, strong or recovery. He's also looking for return to pre virus levels in the first half of the year and return to normalcy. This year. At the same time, we've got a rally in shares of Samsung up about the 8%. Nearly earlier, Bloomberg News reported that Intel, the leading chipmaker, has been talking With Samsung and Taiwan Semiconductor manufacturing about making some of Intel's best chips. A group of shareholders in HSBC Has filed a resolution urging the bank to cut its support of the fossil fuel industry. Dow Jones reporting The Geely Auto is not ruling out the possibility of exploring a potential deal or some type of cooperative opportunity with by do we're going to get the market in Hong Kong up and running. At the bottom of the hour right now in Sydney. ASX 200 down about 4/10 of 1% retails in Australia for the month of November of gaining 7.1%, Japan on holiday today. And as a result will also not have trading in the U. S sovereign debt. The 10 year Treasury last quoted Friday in New York at 1.11% Quite a bit of dollar strength With the Bloomberg Dollars spot Index up 4/10 of 1%. The news is next head Baxter's covering the global.
KTOK
"taiwan semiconductor" Discussed on KTOK
"They can do, but they can't do anything to wreck the country. One president. The Democrats are unyielding. I mean, they are every single year we lose some right or a portion of a riot. But again I've got I've got more evidence David coming up as to why we are in a better position going into this presidency than we were with Obama. NewsRadio 1000 Katie. Okay, money minute. Another round of all time highs. For Wall Street's major averages is stocks closed out a positive first week of the new year, The Dow Jones industrial Average had in 57 S and P Gained 21, the NASDAQ Rose 1 34. Disappointing December jobs report raised new hopes that the incoming Biden administration would act quickly to provide more economic stimulus. The government said the economy shed 140,000 jobs first declined since April. Cisco Systems is going to court seeking to stop accosting your communications from abandoning a planned takeover. Sisko agreed in 2019 to buy a car CIA for $2.6 billion to capture a bigger share of spending on five G networks. Intel reportedly has talked with Samsung and Taiwan Semiconductor about the company's making some of its best chips. Intel. The scene repeated delays in its own manufacturing processes, but it's still holding out hope for last minute gains. Larry Kowski Bloomberg Great Use Radio 1080. Okay, A M and k x x y FM 96.1 h d too. Oklahoma City. There are still some issues with.
MarketFoolery
Nuthin But A 5G Thang
"We're going to start with yesterday's event that apple held apple unveiled four new versions of the iphone twelve including the mini, the pro, the pro Max. Tim Cook said, this is the beginning of a new era. and. This from an optic standpoint tim. This appeared to be very much about not just the new phones but five G.. The CEO Verizon Hans Berg. Joined Cook on stage from a safe social distance. What did you think of that will get into the the phones themselves in a second. But what did you think of the five G. Messaging that was coming out of apple yesterday? Oh, it was amazing messaging if only it were as accurate as the hype was making it out to be. I take it was. So my headline on this Chris is that this is an amazing announcement for a lot of people but not necessarily apple the five here's the problem with five G. News if you put cardboard in front of a millimeter wave five. Device, than that five G. Device is essentially it is stopped from doing any kind of five G. broadcasting the it's not that apple has done anything bad here it's that they're touting five G.. In a way that makes you believe that as long as you have a phone that says, five G, you're going to get five G. speeds. That's just frankly not true. The real thing that has to happen here. Is there has to be a massive bill out of the network. So Verizon being on stage. That's a good thing. Would it tells me is that very likely The first. The first network that's going to make your you know iphone twelve five G. compliant device work like an actual close to five G. device is probably going to be horizon although that's really going to depend on where you're located if you're in a big city like New York San. Francisco, odds are you're probably going to get that kind of connectivity a lot sooner but millimeter wave is a funky technology that we we could go under the hood on it and I'm not going to unless you ask me about it I have not. I didn't think so but the bottom line here is. If you're buying this phone because you believe it's going to give you five G. please don't. In terms of the phones themselves you know there have been events in the past where apple has come out in the fall they've unveiled the latest and greatest iphone. and to my untrained I sort of look at it and they're always new features. But I in the past, a lot of times I have. Looked at whatever is the newest version of the IPHONE and I thought to myself. Well, this is probably going to be something that the apple enthusiasts are going to rush out to buy right. That was not the case this time actually with the phones that they had I i. looked at the mini, which is the least expensive of them and I looked at that and I thought boy I bet I some people who are price conscious or just. Don't want a larger phone I think that is going to appeal to them, and then in terms of the pro and the pro. Max. I think that's going to appeal to media professionals. So I see this as I'm not saying that this is going to be the most successful. event. In terms of new sales yet but I see the targeting that they're doing and I think it could be particularly with the mini. I think you're right because here's the thing I have a what is it now four year old apple iphone se I think where this really wins for apple if it really wins but let's say you're right and I think you've got a I think you're thinking right about this. Chris Apple is betting on that I phone twelve many to be kind of like the upgrade path maybe skip a generation upgrade path for somebody who has like an. Se if they can get you into a six ninety nine phone from where you were at an iphone or let's say at like an iphone eight or even czar. They, win they win. They do not need to sell very many of these iphone twelve maxes, which is like it's got so many superlatives in it. It's like its own sporting event. mean, it really is. It's something but the mini is a is a really interesting device and didn't find it interesting that when you cut between. So you have the iphone twelve, you have the iphone twelve many and those are six, ninety, nine, hundred, ninety, nine. Then you have the iphone twelve pro and the iphone twelve pro Max and those there's one hundred dollars like nine, ninety nine. and. Ten, ninety nine. But what's interesting is there's three hundred dollar Delta between the two and it's not the five G. stuff. Basically, it's the screen and the camera, and so for the vast basically apple has told you is that our mainstream product is basically this many like just by the mini and we're going to be happy and you know who super happy about that Taiwan semiconductor. Because they're going to be making all of those chips this fourteen bionic they have just loaded up the other people who are the other one who's really happy about this sort of applauding in the background is Jensen Wong, this of invidia because he's looking at a forty billion dollar bet on arm chips and apple is the biggest producer of arm chips in the world. So you gotta figure he's backstage just like whooping it up because this is millions of new arm chips that are going to into those phones. Last thing, and then we'll move on. You know what we did not see yesterday from apple a foldable phoned Not, that I thought they were gonNA come out with a foldable phone I'd. I'm just I'm I've never really seen it with with what Samsung is trying to do there. But you know who knows what the new generation though would've definitely would have made Tim Cook's new generation comment valid. Absolutely.
Bloomberg Daybreak: Europe
China opposes Trump administration restrictions on Huawei
"Huawei is accusing the U. S. of using cyber security rules to safeguard its own dominance of the tech industry it comes as the White House tightens rules to prevent chipmakers form supplying wall way China says that the move may threaten the global supply chain I given the restrictions the K. reports that Taiwan semiconductor has stopped accepting orders from the Chinese tech
Bloomberg Daybreak: Europe
Huawei accusing U. S. of using cyber security rules to safeguard its own dominance
"Is is accusing accusing the the U. U. S. S. of of using using cyber cyber security security rules rules to to safeguard safeguard its its own own dominance dominance of of the the tech tech industry industry it it comes comes as as the White the White House House tightens tightens rules rules to to prevent prevent chipmakers chipmakers form form supplying supplying wall wall way way China China says says that that the move the move may may threaten threaten the the global global supply supply chain chain I given I given the the restrictions restrictions the the K. K. reports reports that that Taiwan Taiwan semiconductor semiconductor has has stopped stopped accepting accepting orders orders from from the the Chinese Chinese tech tech giants
Bloomberg Daybreak: Europe
Huawei accusing U. S. of using cyber security rules to safeguard its own dominance
"Huawei is accusing the U. S. of using cyber security rules to safeguard its own dominance of the tech industry it comes as the White House tightens rules to prevent chipmakers form supplying wall way China says that the move may threaten the global supply chain I given the restrictions the K. reports that Taiwan semiconductor has stopped accepting orders from the Chinese tech giants meanwhile fed chair Jay Powell says the US economy will recover from the virus but the process could take until the end of twenty twenty one and depend on the delivery of a vaccine pals but see CBS's sixty minutes Mr Carney will recover it may take awhile it may take a period of time it could stretch through the end of next year we really don't know Powell's remarks follow warning the asset prices could see significant declines if the virus crisis deepens meanwhile Japan's economy cyclol schools are falling into recession is only likely to deepen not says household limit spending a company's concept best mid production and hiring GDP shrank and unutilized three point four percent for the three months that analysts see on over twenty percent contraction for Japan in the second quarter Emirates may slash around thirty thousand jobs as it looks to cut costs to whether the virus crisis the cuts would reduce the carries payroll under the five thousand by around thirty percent with the travel down to an expected to last for years the world's biggest local carrier has already raised one point two billion dollars in new financing and is seeking more help from the Dubai government interesting okay those are top stories this morning let's get more on the spread of the coronavirus what's happening in Europe
CNBC's Fast Money
Intel stock up over 6% on earnings beat, outlook
"Chip maker Intel spiking after hours let's get to John Ford at headquarters with all the details hey John we'll so well just listening to the call. CEO Bob Swanson I wonder bring you the latest there of course just to get the first details out of the way it was a beat on the top and bottom from Intel far and away they also raised their full year guidance by one point five billion dollars co Bob Swan on the call though right now talking about supply which has been a crucial issue for Intel they haven't had enough of it it's and frustrating for PC makers and others who have wanted to get more from Intel he did just say that they do expect increased output For q four that supply will be up double digits also single digits in two thousand twenty but still that is not enough and you said that they are letting their customers down right now with supply constraints and they've been unable to build out inventory now we have heard before that he's putting a little bit more color Intel's growth story I think it's more of the Bob Swan Manifesto on Intel's growth post krizelj talking about ai and the needs old custom built chips for ai pointing out that IDC says that in a couple years seventy five percent of enterprise applications are going to incorporate and so therefore when Intel can tune it's chips to artificial intelligence that makes them more valuable to customers that perhaps counters some of the apply issues and process technology issues that Intel has had allows them to have an argument that technology beyond just process could give them an advantage that will bolster gross margins perhaps Muslim all right John Thanks John Ford back at headquarters by the way we're going to hear from Intel CEO Bob Swan Tomorrow Morning at eleven am eastern time on Squawk Alley in the meantime on what your trade here well it's interesting that that was pretty bullish guidance right that was interesting to me that they would feel comfortable being that bullish really didn't need to because there's a lot of potential uncertainty out there in the next quarter so they must feel very very good and then the data center that was that was really really impressive so I think it's probably better to own here higher than it was this morning lower margin data center businesses I think still nicely the fact that Intel had been the last couple of quarters for Intel the outlook was not very good and and in fact there they threw a lot of cold water on the sector and a lot of people thought it was their their business which wasn't in some of the high growth businesses of the chip chain but but you have to be excited by by how these guys have essentially not only reaffirmed that they act you're seeing growth that maybe they have to kick up demand because the kickoff supply because demand is actually Barron expected but they talked about China and the impact and they haven't really seen a major impact I don't know if that means you should beaked fearful of the eventual but it's a relief for a company that I think people were certainly priced to the downside on this number data set beaten revenues by ten percent I mean that's a pretty big not Tim's point about margins that are all sudden makes operating margins close to thirty six percent which is significantly better than a suit was looking for twenty billion dollars eight percent so the market cap that's not insignificant that's one more thing and valuation to Cairns Point might be arguments probably cheaper now than it was a couple of hours into other chipmakers tell you very different store and now we have Intel and then you add that with your Taiwan semiconductor teradyne the positive ones so what's the message of the chips interview yet you're getting different stories right so I think it all really depends on what the end market is if you are in growing end markets you're going to do well so in videos a good example of one that we like and Marcus would be autonomous vehicles right you've got a data center gaming that's a great play we also so we bailed on they with their symantec acquisition thirty percent of their revenues are now going to be coming from software. I'll be quick takeaways if you've hooked your wagon alza group they've they've outperformed massively anything intact they've certainly massive massively up form the SNP Taiwan semi which is a essentially white labeled manufacturer for the industry is trading at all all time highs I think Taiwanese your biggest take on what's going on in his very impressive
The WAN Show Podcast
GlobalFoundries sues TSMC, looks to ban US imports for Apple and Nvidia chips
"Google. Foundries has filed lawsuits against taiwan semiconductor manufacturing company in the u._s. Germany over over alleged infringement on sixteen patents the company said they're looking to halt the import of processors technology and is seeking to or and is seeking significant damages from t._s._m._c. based on t._s._m._c.'s unlawful use of jeff's propriety technology in the tens of billions of dollars of sales. Basically it'd be really bad. Cousin video apple doesn't a._m._d. Also use them pretty much. Everyone that makes fast. Things now is t._m._z. Now global foundries fell a little bit behind and when you file a little bit behind in semiconductor manufacturer you're in trouble. Yeah you're basically done. So what are you what even happens. If this goes through like do we do. We have like the titan art. He accidents like seventy gold because you can't get any more or something realistically this kind of thing comes out all the time where you know i mean back when back when apple and samsung we're going toe-to-toe all over the original galaxy s. vibrant and how it looks just like an iphone and all that kind of stuff and they'll seek sales injunctions or whatever the case may be like sales bands. The reality is that it usually takes so long to be processed that any product that would be affected by it is long gone from store. Shelves loves before anything actually happens and this is more. It ends up a lot of the time being more about posturing than anything else now. The unfortunate thing about this situation is if it just just covers anything made by t._s._m._c. Yeah it could actually affect your ability to buy an nvidia graphics card card or any countries that will that will uphold this kind of a ruling could create like a black market for graphics cards that are manufactured in taiwan. Sorry the chips manufacturers are chipped manufacturing tonight. One the cards are assembled in china and then they're like shipped through india or something then like snuck into port and the u._s. or whatever says u._s. In germany so maybe we can just get a bunch and or pretty close to the border not an actual business strategy.
Bloomberg Daybreak: Asia
Juliet, Japan And South Korea discussed on Bloomberg Daybreak: Asia
"Good morning from Singapore I'm Juliet's Ali it's just gone a say and then we are seeing markets open in Japan and South Korea and a straight A. F. let's get all the latest action with bronchitis in Hong Kong Brian yes the Nikkei opening Juliet down six tenths of one percent the SX two hundred little bit lower as well the cost be down about two tenths of one percent these losses that are similar in in size to what we saw on Wall Street overnight we had the Dow industrials down four tenths of a percent S. and P. five hundred down six tenths of a percent to investors digesting the record highs of last week and also mixed corporate earnings and then you also have the US China trade dispute that is weighing in and again global growth and some of that reflected Japanese exports falling for a seventh straight month in June the value of shipments abroad dropping six point seven percent from a year earlier economists surveyed by Bloomberg had estimated of five point four percent drop so worse than expected not quite as bad as what we saw in Singapore yesterday but again troubling investors monetary policy decisions coming in South Korea and Indonesia today that's that's a very big part of this Thursday and perhaps even bigger in one sense Taiwan semiconductor will be reporting earnings TSMC is a stock that really feeds into so much of the technology sector really right around the globe right now the yield on the ten year at two point zero five percent who picked up one basis point WTI crude fifty six fifty four and looking at the the dollar right now the Dalian one oh seven ninety three dollars flat slightly weaker this morning Juliet
Mac OS Ken
op stories Chip Maker TSMC Reports ‘Big Drop’ in Crypto Mining Revenue
"But the bad iphone news reported by apple on the first business day of this year. Trouble in the supply chain is practically a given. Now, it's been given a Nikkei piece has both Taiwan Semiconductor Manufacturing company or TSMC and neither back cutting their twenty nineteen forecasts and blaming the trade war between China and the US according to the peace TSMC, the world's biggest contract chip maker and sole supplier of iphone core processor chips expects first quarter revenue to drop twenty two percent versus the same quarter a year earlier. Meanwhile, neither back which makes the Motors that by break knife own when a call or text comes in has cut its full year profit outlook by more than twenty five percent. Nikkei has neither ex-chairman blaming. Banned in China. Not only is there the established iphone weakness, but the firm's seeing demand for automotive and home appliance Motors. Also tumbling in the middle kingdom, but shifting focus from night to TSMC may be going from bad to worse, quoting the K TSMC's outlook in particular may be cause for concern. The company is seen as a barometer of global electronic demand as it supplies almost all the key chip designers around the world and clothing, apple while way, semiconductor arm, high silicon technologies Qualcomm, Invidia, broadcom AMD media tack and XP semiconductors and Zylicz TSMC's CFO blamed U S China tensions directly saying the trade war causes a lot of uncertainties which is a negative factor for demand and the business environment. She also said that her company had acted a hiring freeze and is looking to Ray. Expenses in the current climate.
Buffett's Berkshire Hathaway loosens policy on stock buybacks
"Tock on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty. Countries thanks Nancy now with our, other top stories I'm, amateur, Andrea Goldman Sachs his name to co head of its trading arm position will, run the securities, unit with a, show Veron Esposito is based in London and currently the co chief operating officer of Goldman. Fixed income trading business with banks are Hathaway's cash pile on the rice some investors. Are wondering when they might meet the benefits expertise Sikora has more second, quarter results for Berkshire Hathaway revealed one hundred eleven billion dollars in cash. Reserves Orrin buffet was given more leeway to purchase stock buybacks last month but. His company didn't detail how many shares was willing to repurchase or at what price some analysts think the strength. Of Berkshire's, quarterly. Performance could make the shares expensive many of its businesses reached all time highs, last year under berkshires previous buyback, program the company could not pay more than a twenty percent premium over book, value for Shares a new program eliminates that cap Patrice Sikora Bloomberg radio A semiconductor company that makes chips for iphone says it was crippled by a cyber, virus similar to. Last year's wannacry ransomware the outbreak at Taiwan Semiconductor Manufacturing shot several factories just, as the company ramped. Up for the new iphone TSMC says full operations have resumed, it, expect. A two percent drop in revenue this quarter. Quarterly profit soared it, SoftBank the Japanese telecom provider and technology investor endings rose forty nine. Percent that was boosted by big earnings at Softbank's vision fund the company also gained by selling the China. Unit of. Its subsidiary New York City is set to. Give the. Green light, to one the a, cap on new licenses Uber and. Other ridesharing vehicles Bloomberg's Michael Barr reports the cap is part. Of a sweeping package of regulations designed to. Reduce traffic on busy New York. City streets three years ago city council speaker Cory Johnson opposed mayor Bill de Blasios similar proposal now Johnson says he doesn't. Buy Uber's, argument. That a one year pause we'll take away opportunities for jobs and ridesharing service outside of Manhattan the city council is set to vote on the measure on Wednesday in, New York Michael. Barr Bloomberg radio Google's plans for China even more ambitious than previously thought Bloomberg, has learned that Google. Is in talk with ten cents another Chinese companies to offer, its, cloud. Services the talks began early this year now. Google has narrowed its, partnership candidates to three companies coming up how US companies are coping. With inflation and scarce labor I'm amateur Andrea this is Bloomberg imagine.
Computer virus at A-series chipmaker TSMC could delay chip shipments for new iPhones
"Destroyed by these wildfires I'm barton And I'm Doug krizner at Bloomberg world headquarters in. New York let's check this hour's top business stories and the markets over the weekend j. p., Morgan. Chase EEO Jamie diamond said the US should be prepared to deal with the yield on the US ten year treasury of five percent. Or higher he said it's a higher probability than most people think right now in the, Tokyo session the ten year is trading at, two, point nine. Five percent the offshore Chinese Yuan is steady against. The dollar it was late Friday that the PBOC imposed a reserve requirement of twenty percent on some trading of foreign exchange. Forward contracts the move will make it more expensive to bet against, the currency, the economic, the economic the economic observer report the economic observer reported advisor saying you want won't break seven against the dollar earlier in the, Asian, session said a daily reference rate stronger against. The dollar and, right now the offshore currency is at six. Eighty three Three fifty eight Taiwan Semiconductor Manufacturing Co. is working to recover from a debilitating computer virus the company warned of delayed shipments along with reduction in revenue because. Of the impact on its factories TSMC makes chips for the iphone and other devices the company, said. Eighty percent of its fabrication tools affected by the virus outbreak on Friday evening have been restored and that it expects a full recovery. On Monday we have shares in TSMC down about six tenths of one percent we check, markets every fifteen minutes here on Bloomberg right, now, in Hong. Kong the hang sang is ahead nearly one point. Three percent the Shanghai composite is up two tenths of one percent in Seoul the kospi is higher by one half of. One percent in limited trading we've got the ASX two hundred in, Sydney ahead, seven tenths, of one percent and in Tokyo the Nikkei true twenty-five better by three tenths of one percent global news twenty four hours a, day, on air and a tick tock on Twitter. Powered by more than twenty seven hundred journalists and analysts in In more than one hundred twenty countries this is Bloomberg this.
TSMC recovers 80 percent of virus-hit production line, warns of production delays
"They've stopped defending, Neo, on they think it's going to help offset the US effort to. Get rid of their unfair trading sounded The. Currency fall, though I think it's just money leaving China because, it's a lousy investment and that continues that were really damage the Chinese economy if the Shanghai composite falls. Another three tenths of a percent. Today, then that would put it at about. A two, and a, half year low we've got some interesting data for China this week the probably one of the more important numbers are going to be trae data to see whether or not this trade war is actually beginning to creep into some of the numbers meantime China may actually be about to report its first half year current account deficit. In decades the story from Bloomberg's Yvonne man deutchebanks says, China is likely to report a current account deficit of about, fifteen billion dollars for the first half that will be the first half year deficit for the country since. Nineteen ninety eight db analysts. Juillet John and you say the expected to. Client is part of a, structural trend due to consumption upgrades and slower export growth and they say trade tension will reinforce the The. Downward pressure on China's current account in the second half. And in two thousand nineteen in Hong Kong Yvonne man Bloomberg daybreak, Asia well some well-known Asian tech stocks may be moving today on word that. Google is looking for partners to offer its cloud. Service in China details from Bloomberg's rainy incensio ten cent and inspir- electric information industries Asia traded stocks may get some attention today on word Google's parent alphabet is in discussions with. Them, on the initiative Yahoo Japan Nanjing panda electronics Xinjian son yes electronic China security and Shenzhen. Innovates tech are also stock to watch because, of this we're being told Google has been in talks on a possible partner on this since early this year and narrowed candidates down to three companies in the spring the goal is to run services like drive and docs, through Chinese data centers and servers but we're also hearing that trade tensions could make progress difficult Ramy, Inocencio Bloomberg daybreak, Asia Taiwan Semiconductor Manufacturing Co. Racing to recover after a crippling computer virus more from Bloomberg's Denise Pellegrini TSMC now says eighty percent of its fabrication tools are back after. Being, hit, by the virus. Friday, evening the Taiwanese company also says the incident will delay some shipments and hurt revenue operating margins for the quarter but it still sticking, with its forecast for single digit revenue growth for the year in. Dollar terms TSMC's in the middle of ramping up chip-making production for Apple's next iphones it's not saying which customers are, affected, by, the, delays, to, these Pellegrini? Bloomberg. Daybreak, Asia and TSMC opened. About one percent lower on continuing to. Trade around that, level two hundred forty four fifty stock has come up from just a little more than two hundred and ten dollars though over the past month or so. All right the time is now six and a half minutes past the hour let's get, the latest in news San Francisco Ed Baxter's there China's serving itself Ed throughout Asia, and, some, new reports that Make some progress with, as Ian tell us more, yeah well the conference over the weekend Brian has you know the conclusion there's some school. Of thought China's move to a better now relationship with Azza nations they're listening to them anyway dole who, is a senior researcher at Pango wall institute says they have worked out scenarios of mutual security help in situations like on the oil tanker what we are going to do. So all those measures that will move forward that longtime peace and stability cooperation between China and that's John countries I think yes indeed quite productive he says China will. Be important component. At that and at US stay Mike Pompeo's made the promise to talk to Russia about alleged violations on North Korean sanctions that detracts. From the. World's goal finally fully denuclearizing North Korea would be something that America. Would take very seriously and the, Trump administration is now admitting that there are definite problems in, the talks with North Korea National security adviser John Bolton on foxing promises. Have. Been, made there's nobody in this, administration, starry eyed about the prospects? Of North Korea actually denuclearizing but I think what's going on now is that the. President is giving Kim Jon, masterclass, and how to hold a door open for somebody US intelligence has been reporting now for over a week that Kim Jong UN is still working on ICBM development seven point zero. Quake Indonesian island Blomberg has taken at least eighty two lives now officials say the quake felt very strongly in, neighboring Bali, some, damage, done there. Australia's home, affairs minister Peter Dutton as one of those evacuated from oh tells in the region and we're getting reports of aftershocks USGS saying a five point three global news twenty four hours a. Day, on Aaron talk on Twitter power by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries in San Francisco I'm Ed Baxter this is Bloomberg I'll, take it over here, Toby Lawson Zor guests managing director at Salk gen securities Australia, Toby what do, these signals warn you about we've got, a flat yield curve we've got a sort of impending trade war we've got what's happening in emerging markets we commodities and China. Slowing what does. That tell you Picked him all on the on? The the worst case scenario and. All of those elements and I don't think. That's necessarily way at all I think. You could at flattening a. Little bit of moving on Flattening, Leach technically towards recession in the US into the. Twenty. Nineteen but right now not bad US economy strong early days and how's it going to impact TDP with a medium-term godly get. Brought at this stage not a hell of a. Lot of the impact immediately emerging markets will let US dollar story Have? You still, have strong that puts the pressure on the aims but during the last time we had a dollar crisis again fundamentally they're in better shape, than they would so I'm not as negative I roll but they certainly watch points you're looking at and they relevant are, you bearish on the you want I mean? We've seen, quite a bit of depreciation here over the last several weeks, in particular Friday when we hit six ninety one against the dollar. And then we had to the PBOC, kind of imposing. That the reserve requirement twenty percent on some four x. forward contracts what do you expect, for the you want I mean have they drawn. The. Line implicitly in the sand at seven No I think, this slide it up I think you have? A look, at the statements to that move on the wind shift significant He's nice surprise the PBS candy slow it down but I think this. Is not. Necessarily the end of it I just think it's. A matter of getting poised to happen at the, at the time banks nice surprise we saw that move coming from PBA identikit. Ends, it intends to pressure on the. One for depreciation but at least it'll give a bit of breathing space for the market, to Deep edit will be and subject. To have the trade will if they start to. Escalate how they will have an impact on, the Chinese economy you guys had sought Jenner usually pretty pretty sober and a. Little bit nervous so that's why I served up to you and I'll, come, from the other direction. When. We continue our. Conversation because as looking at Prada, LVMH and Gucci, these stocks are all surging and essentially that's China that's really. Where they have their big big moves so how do we square that with.