Samsung Electronics surpassed Intel as the world’s biggest chipmaker by revenue for the first time Wednesday. The South Korean electronics giant reported full year earnings that showed the semiconductor division raked in 74.2 trillion won ($69.8 billion) in sales during 2017. In comparison, Intel’s revenues stood at $62.7 billion at the end of 2017. Samsung […]
Read moreBrace yourself for a tech earnings wave over the next two days as some of the biggest names on Wall Street open their books to scrutiny. Facebook, Microsoft, Apple, Amazon and Alphabet all report this week. The five companies make up more than 40 percent of the Nasdaq 100. Piper Jaffray’s Craig Johnson has sifted […]
Read moreThe worst two-day decline for the Dow Jones industrial average since September 2016 was not the beginning of the end of the bull market, the chief investment strategist at Raymond James told CNBC on Wednesday. The U.S. futures were pointing to a rebound at the open on Wednesday after sharp losses on Monday and Tuesday. […]
Read moreApple on Wednesday responded to reports that the Justice Department and Securities and Exchange Commission are probing its decision to throttle older iPhones, confirming that the U.S government has asked questions. Apple said it would never intentionally “degrade the user experience to drive customer upgrades,” in its statement on Wednesday. In January, Apple was caught […]
Read moreBitcoin is headed for its worst monthly decline since January 2015 this month amid increasing scrutiny from regulators on the cryptocurrency space. At 12:30 p.m. London time (7:30 a.m. ET), bitcoin was trading at around $10,249.56, according to CoinDesk, which tracks the price of the cryptocurrency based on a number of major exchanges. On January […]
Read morePayroll and tax services provider Automatic Data Processing raised its full-year profit and revenue forecasts as the company expects to benefit from the U.S. corporate tax reform. The company said it expects revenue growth of 7 percent to 8 percent in fiscal 2018, compared with its earlier forecast of 6 percent to 8 percent. U.S. […]
Read moreChina’s prime minister promised Wednesday to increase its trade with the U.K. during Theresa May’s visit to the country at a time of economic uncertainty in Britain amid Brexit negotiations. Following meetings between the U.K. and Chinese premiers and officials, Li Keqiang told a press conference that both countries were “committed to upholding to free […]
Read moreThe nearly 400-point tumble in the Dow is something we haven’t seen in a while. Rather than panic, investors would be wise to roll with the punches, says Scott Wren, senior global equity strategist at Wells Fargo. These days, big swings are bound to become more common. “You’ve got to get used to this — […]
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AT THE start of 2017, just before Donald Trump was inaugurated as president, a survey of fund managers by Bank of America Merrill Lynch (BAML) found they believed that being positive on the dollar was “the most crowded trade”. It turned out they were right to be cautious. On a trade-weighted basis, the currency has […]
Read moreDisappointing iPhone demand will force Apple to lower expectations, according to one Wall Street firm. BMO Capital Markets lowered its rating for Apple shares to market perform from outperform on Wednesday, predicting weaker-than-expected sales for the company’s March quarter. “There has been much in the press about order cuts for iPhone X, and we believe […]
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