Post by Dave on May 18, 2020 1:56:13 GMT -8
Monday, Monday, Can’t Trust That Day. Pre-market is green this morning, +$1.30 at this moment. Let see what this day holds.
Dow Jones Futures: Apple, Facebook, Google Near Buy Points In Coronavirus Market Rally; The Ultimate Tesla Debate
U.S.-China Fight Over Chip Kingpin Rattles Tech Industry
Dow Jones Futures: Apple, Facebook, Google Near Buy Points In Coronavirus Market Rally; The Ultimate Tesla Debate
The Justice Department is moving toward a possible antitrust suit vs. Google, according to multiple reports. Several states also are working on separate litigation, also focused on Google's ad search dominance. Google stock fell modestly early Monday on the DOJ report. Facebook stock and Apple stock, which edged lower Friday night, were up slightly early Monday.
On Saturday, President Donald Trump tweeted that the "radical left" control Google, Facebook and Twitter (TWTR), adding that the administration is "working to remedy this illegal situation."
On Saturday, President Donald Trump tweeted that the "radical left" control Google, Facebook and Twitter (TWTR), adding that the administration is "working to remedy this illegal situation."
U.S.-China Fight Over Chip Kingpin Rattles Tech Industry
Bloomberg) --
Since its founding more than three decades ago, Taiwan Semiconductor Manufacturing Co. has built its business by working behind the scenes to make customers like Apple Inc. and Qualcomm Inc. shine. Now the low-profile chipmaker has landed squarely in the middle of the U.S.-China trade war, an incalculably valuable asset that both sides are vying to control.
The Trump administration opened up a new front in the conflict on Friday by barring any chipmaker using American equipment from supplying China’s Huawei Technologies Co. without U.S. government approval. That means TSMC and rivals will have to cut off Huawei unless they get waivers from the U.S. Commerce Dept. TSMC has already stopped accepting new orders from Huawei, the Nikkei newspaper reported Monday.
The move threatens to wreak havoc throughout the complex ecosystem that produces technology for consumers and companies around the world. An attack on Huawei threatens not just its workers and its standing as a world leader in making smartphones and telecom equipment, but also hundreds of suppliers. The Chinese government has vowed to protect its national champion, with threats of retribution against U.S. companies that depend on China like Apple Inc. and Boeing Co.
“China likely will retaliate, and investors should brace themselves for a possible trade war escalation,” Sanford C. Bernstein & Co. analysts led by Mark Li wrote in a research note on Friday.
Since its founding more than three decades ago, Taiwan Semiconductor Manufacturing Co. has built its business by working behind the scenes to make customers like Apple Inc. and Qualcomm Inc. shine. Now the low-profile chipmaker has landed squarely in the middle of the U.S.-China trade war, an incalculably valuable asset that both sides are vying to control.
The Trump administration opened up a new front in the conflict on Friday by barring any chipmaker using American equipment from supplying China’s Huawei Technologies Co. without U.S. government approval. That means TSMC and rivals will have to cut off Huawei unless they get waivers from the U.S. Commerce Dept. TSMC has already stopped accepting new orders from Huawei, the Nikkei newspaper reported Monday.
The move threatens to wreak havoc throughout the complex ecosystem that produces technology for consumers and companies around the world. An attack on Huawei threatens not just its workers and its standing as a world leader in making smartphones and telecom equipment, but also hundreds of suppliers. The Chinese government has vowed to protect its national champion, with threats of retribution against U.S. companies that depend on China like Apple Inc. and Boeing Co.
“China likely will retaliate, and investors should brace themselves for a possible trade war escalation,” Sanford C. Bernstein & Co. analysts led by Mark Li wrote in a research note on Friday.