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 […]

Apple 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 […]

Bitcoin 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 […]

Payroll 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. […]

Disappointing 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 […]

Microsoft is set to report quarterly earnings Wednesday after the bell, and one trader is bullish on the name in part because of the tech giant’s foray into the world of blockchain technology. The stock, which hit an all-time high Monday, looks well-positioned into earnings, said Michael Bapis, partner and managing director at the Bapis […]

Samsung Electronics is producing chips for a Chinese company to mine cryptocurrencies and it expects this to boost earnings this year. The South Korean technology giant has a division within its semiconductor business called Foundry. It builds chipsets for other companies. Samsung said in its fourth quarter earnings Wednesday that it will “benefit from cryptocurrrency […]

A pre-sale of Venezuela’s new “petro” cryptocurrency will begin on Feb. 20, President Nicolas Maduro said on Tuesday, a move that the government hopes will help pull the country out of a dire economic crisis. Critics have slammed the initiative as not only illegal but nothing more than a debt issuance by the government amid […]

Nintendo reported earnings for its fiscal third quarter of 2017 on Wednesday that beat market expectations, with the gaming giant also upping the sales forecast for its flagship Switch console. The Japanese firm also increased its outlook for operating profit in the year ending March 2018. Nintendo reported the following results for the three months […]

Former Vice President Al Gore’s investment firm is making a big bet on one of the creators of Facebook. Asana, a software company headed by Facebook co-founder Dustin Moskovitz, said on Tuesday that it raised $75 million in a financing round led by Generation Investment Management. Generation, which Gore co-founded in 2004, invests globally and […]