World News – CA – IBM to Create Infrastructure Services as New Public Company

(Reuters) – International Business Machines Corp on Thursday announced the split of the managed infrastructure services unit of its Global Technology Services division into a new state-owned company

The company said it hopes to focus more on software and cloud solutions through the separation

Separation of new company is expected to be done as a spin-off tax-free to IBM shareholders and completed by the end of 2021, IBM said

Ray Dalio, founder of the massive investment firm Bridgewater Associates, spoke out against liquidity all year round, and he doubled his position on Wednesday, telling CNBC that, even amid all the market turmoil, this safe investment « 

Domino’s Pizza revenue missed third-quarter views even as same-store revenue and sales growth beat Domino’s stock fell, signaling a dip below a buy point

The markets have been on a roller coaster lately, rising one day and falling the next, as Wall Street professionals and investors try to make sense of the ever-changing information cycle. In the first week of October we saw a really good employment report in September President Trump spent three days in Walter Reed Hospital with a case of COVID-19 and, to his credit, the president has withdrawn from negotiations with House Democrats on New COVID Economic Stimulus Plan It’s Enough to Make Your Head Spin It Also Enough To Send S&P Up 60 Points One Day And Down 60 Points The Next Investors Are Nervous; no one wants to see another economic downfall, no one wants to see the administration crippled by the coronavirus, and whether or not there will be a stimulus package of $ 1.6 trillion or $ 2 trillion, or just $ 400 billion, Wall Street would just like to get a feel for what’s in the cards Looking at everything from Wells Fargo, senior global market strategist Sameer Samana summed it all up when he wrote: “While there are still risks, such as elections and the uncertainty related to COVID-19, we believe investors should continue to remain fully invested and we favor US large and mid caps and the information technology, consumer discretionary, communications services sectors and Health « With Samana’s outlook in mind, we took a closer look at three stocks backed by Wells Fargo Browsing through the tickers in TipRanks’ database, we learned that the company saw at least 70% upside potential in-store for each of them, and all three achieved a ‘Strong Buy’ consensus rating. from the rest of the streetNorthern Oil and Gas (NOG) First, Northern Oil and Gas, a small-cap oil and gas exploration company operating in the Williston Basin of North Dakota and Montana The company’s active games include wells in the formation of Bakken, the region that helped put fracking into national consciousness Northern reserves include 74 billion barrels of recoverable oil and production, at 15 million barrels per day, has increased by 30% over the years Despite strong output growth, low prices and weak demand during the corona crisis dampened 1H20 earnings Profits, however, hover around EPS was only 5 cents in Q1, but jumped to 20 cents in Q2 and expected to reach 38 cents in Q3 Unsurprisingly, these gains come as several states ease COVID restrictions and aggregate consumer demand increasesThomas Hughes, Analyst at Wells Fargo, sees the company’s strong acquisition plan – and membership – as key. “As NOG improved its balance sheet and cost structure, the E&P business moved in the opposite direction, particular within its main pool of interest (Williston) After closing an acquisition of around 300mm in 2019, NOG selectively sought out what it describes as ‘ground game’ opportunities, or plots smaller and smaller in size offering short-term CF increase due to: (1) superior acreage productivity analysis and (2) better understanding of future development plans As of 2Q19, they have totaled> 90mm, and NOG is now looking for more ”Wrote Hughes The analyst concluded:“ As a smaller-cap operator, we believe that the limited beta of NOG relative to the volatility of oil prices in the short term provides strong FCF insurance, while a strong (and improving) balance sheet provides an option to capitalize on a short-term buying marketTo that end, Hughes assigns NOG stocks an overweight rating (ie Buy) with a price target of $ 10 This figure suggests a potential upside of 90% from current levels (To view Hughes’ balance sheet, click here) Wall Street agrees with Hughes on the potential here; Strong Buy analyst consensus rating comes from 5 unanimous positive reviews Stocks are priced at $ 5.30 and have an average price target of $ 14, giving an impressive upside potential of 166% (See analysis of NOG action on TipRanks) Bonanza Creek Energy, Inc (CBIE) Next, Bonanza Creek, another small-cap oil and gas explorer in the North American energy sector This one operating in the Front Range of the Colorado Rockies Bonanza Creek owns active wells in the Wattenberg field, using hydraulic fracturing and horizontal drilling to extract oil and gas from formations first brought into play in the 1970sIn the second quarter, CBIE saw a 40% sequential drop in revenue, to $ 36 million, and a net loss per EPS of $ 187 At the same time, the stock has managed to retain its value; stocks are now trading at the same level they were before their « crown collapse » in early March The second quarter also saw capital spending at the low end of the forecast scale and debt plummeted to $ 58 million The company plans to pay off this balance by the end of the year This optimistic forecast is based on meeting annual production forecasts – which have been raised to a range of 24 to 25 million barrels of oil equivalent per day For the quarter, sales volume averaged nearly 25,000 barrels of oil equivalent per day At Wells Fargo, analyst Thomas Hughes is impressed with the company’s balance sheet and production opportunities. YE20 and PDP expected net cash balance of debt underlying a valuation above where stocks are trading, we view CBIE as a rare SMID value opportunity that also benefits from low leverage risk … CBIE does not have the scale required to land itself among the ranks of Shale 30 operators, but in our opinion that does not necessarily matter given the clear disconnect of value unleveraged balance sheet provides important dry powder to deal with in a market ripe for distress-related opportunities Until then, untapped development should help stabilize volumes until higher oil prices (we estimate between $ 45 and $ 50 a barrel) justifies the expansion of the company’s Legacy acreage, ”commented HughesHughes’ written opinion supports his overweight (ie Buy) – and his price target of $ 33 suggests a sharp rise of 72% over the next 12 months Overall, CBIE’s Strong Buy analyst consensus rating is based on 4 reviews, or 3 buy and 1 hold The stock sells for $ 19.16, and its average price target of $ 31 implies that it has room for upward growth of 61% ahead of it (See analysis CBIE stock exchange on TipRanks) Devon Energy (DVN) Devon Energy, the latest stock on this Wells Fargo list, is another North American energy game This mid-sized company operates primarily in the New Mexico-Texas-Oklahoma region , with some additional operations in Wyoming At the end of 2019, Devon held over 18 million acres of mineral rights and 10,800 production wells Last year’s net production was 323 thousand barrels of oil equivalent per day and reserves totaled 757 million barrels of oil equivalent Oil About two-thirds of that total is liquids, the rest being natural gas Like the other companies above, Devon struggles with low oil and gas prices, declining revenues and low Q2 profits, revenue fell sequentially from $ 2.09 billion to just $ 394 million EPS fell into negative territory with a net loss of 18% per share But there was also good news Devon reported greater operational efficiency at during the quarter, bringing total investment to $ 203 million for the quarter, a savings of 10% Oil production for the quarter exceeded forecast by 3,000 barrels per day, hitting 153,000 barrels But most importantly, the company ended the second quarter with no debt maturities until 2025 and $ 4.7 billion in available liquid assets, including $ 1.7 billion in cash Since the end of the second quarter, Devon has made two moves that bode well for future performance First, Devon closed the sale of its Barnett Shale assets, freeing up $ 320 million in cash at close And second, the company announced it would enter into a ‘merger deal’ between equals ”with competitor WPX Energy Merger is an all-equity deal and will create the largest unconventional oil and gas producer in the United StatesAnalyst Thomas Hughes was impressed with the Devon merger and what this transaction reveals about the overall business plan Referring to the near term “Management expects to generate approximately $ 575 million in annual flow improvements cash flow within 21 years thanks to the initiative already underway in Devon (around $ 300 million) and the synergies from the [WPX merger], ”Hughes wrote Looking to the future, Hughes sees Devon following a cautious with a clear goal in mind « We think the huge portfolio transformation Devon has undergone over the past 5 years has been an impressive look at how a large-cap, diversified oil producer can pivot their focus Recognizing the difficult road Devon has traveled, « New Devon » seeks to further focus its operations on core parts of the US shale by divesting the Canadian Oil Sands and Barnett (also Rockies CO2) assets We see the goal of the « New Devon « is doable with the remaining US Shale assets are above average, anchored by a strong position in Delaware » Analyst noteConsistent with these comments, Hughes gives DVN a rating of overweight (ie Buy) Its Price target of $ 18 indicates potential up 106% year on year In total, the 17 recent reviews on DVN include 14 buys and 3 takes, supporting the Strong Buy analyst consensus Average share price target of 15 USD56 implies a 60% rise from current price of $ 9.75 (See DVN Stock Analysis on TipRanks) To find great ideas for stocks traded at attractive valuations, visit Top Stocks s to buy from TipRanks, a newly launched tool that brings together all information about the shares of TipRanks Disclaimer: The opinions expressed in this article are solely those of the featured analysts The content is intended to be used for informational purposes only It is very important to do your own analysis before making any investment

Name three things these five companies have in common: AutoZone, Booking Holdings, Cable One, NVR and Seaboard Three: all benefit from top-performing shareholders as measured by their long-term horizon and portfolio concentration These two companies recently split their shares in order to lower the share price

Company shares rose nearly 14% in pre-market trading Arvind Krishna, who took over as CEO from Ginni Rometty in April, said IBM’s software and solutions portfolio will represent the majority of the company’s income after separation Krishna is known as the « main architect » of IBM’s biggest acquisition, the software company Red Hat, which was bought for $ 34 billion last year

Volkswagen AG, a German multinational automaker, said on Wednesday that its sales of electric cars will likely account for 90% of total sales in Norway in 2021 and replace polluting gasoline and diesel engines by 2023, Reuters reported citing local automaker importer

IBM CEO Arvid Krishna says iconic IT group will be ‘laser-focused’ on cloud growth as it abandons its legacy infrastructure services division

Millions of US workers have lost their jobs due to the pandemic, but in the auto industry, suppliers are struggling to find enough people to staff production lines, resorting to approaches Such as rewards for good attendance and teachers at work to attract job seekers At auto parts maker Mobex Global, chief executive Joe Perkins said he was raising wages and offering bonuses to help fill 80 Vacancies « This is the most critical problem in our business, » said Perkins, whose company has 12 US factories and counts General Motors Co and Ford Motor Co among its customers

Analysts Think These Seven Tech Stocks Are Right Now On The Market As the market has climbed up and down during 2020, tech stocks have steadily climbed to new highs It makes sense that companies that rely on them Internet connections and cloud technology rather than physical locations have performed particularly well this year, and as the pandemic continues to keep people in their homes, these tech companies are expected to continue to thrive.

A wedge pattern on the Delta Air Lines (DAL) chart suggests the stock is about to make a significant move

The US death toll from COVID-19 coronavirus disease topped 211,000 on Wednesday, as doctors and medical experts say President Donald Trump enters a key phase of the disease that may s ‘worsen seven to ten days after onset of symptoms

The stock markets are all about the timing Whether your investment strategy is bullish or bearish, what matters is doing the right things at the right time It’s the truth at the heart of the old Wall Street cliché that bulls and bears make money, while pigs are slaughtered If you are greedy and start chasing money, you will forget the signs that tell you when to buy or when to sell Savvy investors will look for reliable signs that will indicate the likely movement of a stock In volatile times like these, these signs are needed more than ever Insider activity is a signal that correlates with a stock’s future performance It makes sense Insiders, the corporate officers tasked with running a business and producing profitable results for shareholders, have a lot more information than the average stock investor – and they’ll use it to trade Track the business of insider trading – buy or sell – is a viable strategy for investors How can you find the most popular insider trading stocks right now? The answer is simple: Insider Hot Stocks Tool from TipRanks that brings together all recent insider trades to reveal stocks with the most bullish insider sentiment Plus all insiders are ranked so you can make sure you only follow insiders who actually make money With that in mind, here’s the scoop on three battered stocks that recently saw multi-million dollar buying activity Liberty Global PLC (LILA) First on our list is a major telecommunications company in the Western Hemisphere, Liberty Latin America The company has its hands in high-speed internet, mobile services, telephone and video streaming services, as well as other entertainment services, and its primary presence reflects its name: it is more active in Chile, Colombia, Central America, Puerto Rico and the Caribbean Liberty Latin America is also active in Florida, where there is an im bearing minority population from these regions COVID crisis had a heavy impact on LILA’s performance The company’s financial data hit its lowest level in April, at the start of the second quarter, when the positive first quarter performance turned in the south Q2 ended with a sequential loss of sales of 89% and a deep net loss in EPS Share prices started to decline in late February and early March, and have not regained momentum since The stock is down 52% year-to-date But management is confident that business is back to normal And that confidence has attracted strong insider buying in the recent Latin American stock sell-off Three of these informative transactions involved purchases over $ 1 million The most significant came from Eric Zinterhofer, from the board of directors, who bought more than 296 million shares for 21149572 $ John Malone, board member, made the second largest purchase, on 274 million shares for $ 19,559,030 And finally, President and CEO Michael Fries, of original parent company Liberty Global , bought 172,196 shares for $ 1,229,479 These purchases, along with several smaller ones, pushed LILA stock insider sentiment strongly positive This was noted by 5-star Benchmark analyst Matthew Harrigan, who wrote: “… We believe that LILA has executed its business plan well despite operational performance hampered by the dislocations of COVID-19, particularly in Chile LILA is also focusing on a Latin emerging market region that is now definitely out of favor with investors This is because [CEO and CFO] recently bought open market share, even beyond the offer rights « Harrigan’s $ 17 target suggests an impressive 93% rise for the stock, confirms its buy rating (To view Harrigan’s history, click here) Overall, Liberty Global has a moderate analyst consensus buy rating, based on a 1: 1 split between buy and hold ratings. sells for $ 881, and the average price target of $ 1439 suggests a 63% rise in the coming year (See LILA market analysis on TipRanks) Continental Resources (CLR) Next on our list is a player in The North American oil and gas industry Continental produced 340K barrels of oil equivalent per day last year, producing more than $ 4.63 billion in total sales.The company operates in Oklahoma, but its primary presence is in the Bakken formation of North Dakota and Montana Falling prices and falling demand during 1H20 hurt the business as the COVID pandemic put massive downward pressure on the economy Revenue slipped to only $ 175 million in Q2, generan t a net EPS loss of 71 cents But there is a rebound as the economy recovers, and the outlook for the third quarter is better – an expected EPS loss of 27 cents The company is streamlining its operations , to close non-performing wells to reduce costs and focus on the most profitable activities Slipping 63% year-to-date, board member sees better days ahead Harold Hamm spent more than $ 9 74 million buying 769235 company shares His gesture made net insider sentiment positive on CLR stock MKM analyst John Gerdes believes the stock is undervalued at current levels, noting that « the CLR has depreciated over 30% (vs. XOP – ~ 25%) since early June and reflects over 40% of rising intrinsic value Our 3Q20 production forecast is around 295 Mboepd in the upper half of forecast, and our outlook production for YE20 of around 323 Mmboepd is 1% above forecast midpoint « Gerdes sets its price target at $ 20, which implies a 58% increase for the coming year, which fully confirms his purchase recommendation (To see Gerdes’ track record, click here) The general view on CLR stock is cautious; Wall Street analysts’ consensus rating is an expectation, based on 12 reviews broken down into 3 buy, 7 take and 2 sell However, the average price target is $ 16.54, suggesting a 30% year-over-year increase from the current stock price of $ 12.69 (See CLR stock market analysis on TipRanks) Net 1 UEPS Technologies (UEPS ) South Africa-based Net 1 is a technology company, with a non-exclusive global license for the Universal Electronic Payment System The company is a leading provider of financial technology, payment solutions and transaction processing in several emerging economies and in several sectors The company offers services through an alliance network with banks, card issuers and retailers Like the other companies on this list, Net 1 saw its revenues and profits plummet when Corona shut down the economy The general downturn in economic activity, especially in retail, has been a big blow.The second quarter figure reflected this, with revenue of just $ 25 million and EPS deep in negative territory with a net loss of 69 cents The share price has been volatile and has yet to recover from losses suffered at the start of the crisis UEPS is down 20% from its peak in early February There are bright spots outlook for the third quarter is better, with a projected EPS loss of just 9 cents And the company ended the second quarter with no debt and unallocated cash of $ 218 million This puts UEPS in strong position to rebound as economy starts to reboot As far as insider trading is concerned, Anthony Ball of the board has the latest informative buy Last week he bought over 350,024 shares, depositing $ 1 2 million for stock Rajiv Sharma, of B Riley FBR, wrote the only recent UEPS review on the record, and is bullish on the stock « We think the UEPS long-term investment portfolio is very promising, especially its MobiKwik investment in India and despite their illiquid status Despite the setbacks related to ST COVID in UEPS operational activities in South Africa, we believe that it holds promise as a valuable company given its hold on microloans and a large potential subscriber market in South Africa There is a good chance that UEPS can significantly increase its customer base from here and continue to add ancillary services to its core activities.Sharma rates UEPS stock as a buy, and her price target of $ 5 suggests room for growth of 45% from the current price of $ 344 (To check out Sharma’s track record, click here) To find great ideas for stocks traded at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that brings together all the information about TipRanks stocks Disclaimer: the opinions expressed in this article are those of the featured analysts only The content is intended to be used for informational purposes only It is very important to do your own analysis before making any investment

Corona may have locked us all inside, shut down the economy for almost half the year, and even put President Trump in hospital – but it seems to have overtaken the semi -conductors And for good reason Semiconductor chips are essential to our economy From mobile devices and laptops to wifi and factories, almost everything in our lives runs on solid state chips A look at the numbers will confirm it fifteen largest chipmakers achieved combined revenue of $ 314 billion last year, and the industry as a whole is on track to see $ 468 billion by 2020 The industry is estimated to will sell over 1 trillion units this year With that in mind, we looked at chip stocks with two stocks to consider here and one to avoid Using TipRanks’ stock comparison tool, we’ve lined up the three next to each other to get a feel for what the short term holds for these chip players.Marvell Technology (MRVL) We’ll start with Marvell, whose market capitalization of $ 29 billion makes it a mid-sized company in the semiconductor industry With $ 2.9 billion in total sales last year, the company did not made a top 15 chipmaker list – but it remains a significant player, operating in more than a dozen countries around the world and partnering with big names like Samsung and Nokia Marvell’s partnerships strengthen Marvell’s position the company in the growing 5G-capable chip market Samsung and Nokia are both major handset manufacturers, and Nokia has signed up with Marvell to resolve “5G chip issues” Marvell’s deal with Samsung is important, because the Korean company is one of the largest smartphone manufacturers in the world and is now a captive market for MarvellAll of this helps explain why MRVL shares are up 64% year-to-date The company is simply on a tear – and the general economic downturn in 1H20 could not have impacted earnings from Marvell Revenue of $ 693 million, and $ 727 million for Q1 and Q2, in line with previous two quarters Earnings per share increased sequentially from Q1 to Q2, 9 cents to 12 cents , and exceeded forecast by 20% A solid foundation and profitable results brought Marvell to the attention of 5 star analyst Hans Mosesmann who covers Ronseblatt’s title « Marvell has 5nm silicon in its labs today and the performance and density characteristics seem rather favorable… Marvell’s decision makes customers buy up front due to nature of custom ASIC business Marvell also gets the benefit of being able to reuse blocks of building 5nm from non-owner customers for use in other products or market segments, « explained Mosesmann. The analyst concluded, » We see the market opportunity of Marvell, the secular and fundamental changes in the world IT, due to the exponential growth in AI workload requiring more custom ASIC solutions, and the accelerated shift to 5nm support the notion of a 30x Level premium valuation multiple compared to to our current view of the mid-1920s « As a result, Mosesmann awards MRVL a purchase price with a target price of $ 60 This figure implies a potential upside of 38% for the coming year (To consult the Overall, the recent 21 reviews of the MRVL stock break down into 15 buy and 6 take, giving the stock a consensus analyst rating on moderate buy (See the MRVL stock market analysis su r TipRanks) NXP Semiconductors (NXPI) Next, NXP takes us up a notch This company, which has dual headquarters in the Netherlands and Texas, was ranked 14 out of the top 15 semi- drivers in 2019, based on total sales (NXP saw $ 886 billion in revenue last year) As revenues and profits declined due to the corona pandemic and supply and distribution disruptions , Company Remains Profitable Continued Profitability Has Supported Share Price NXPI has recouped over 97% of its stock price losses since fainting in midwinter this year and is now posting a gain of 6 % since the beginning of the yearNXP is in an attractive position Almost half of the company’s business is in the automotive industry, where the chipmaker is a major supplier of circuitry and network processors for battery monitors and radar systems These are technologies integrated into electric cars and autonomous vehicles which, despite their crises and starts, are progressing steadily. Fortunately for NXP, the global auto industry expects electric cars and self-driving cars to gain market share – and adjusts planning accordingly Gary Mobley, 5-star analyst at Wells Fargo, definitely agrees  » Our investment thesis is largely based on a recovery in global automotive production In the longer term, our investment thesis is based on: 1) growth in semiconductor content per automobile, 2) gains in NXPI’s share in the automotive semiconductor market, and 3) the growing need for secure and contactless mobile payments as well as & proximity sensing authentication, « Mobley wrote The analyst concluded, » [We] believe that NXPI is expected to experience disproportionate revenue growth, margin expansion and EPS growth during CY21 Additionally, we believe stocks are attractively valued relative to EB Non-GAAP Standardized IT and BPA « Mobley is impressed enough here to rate NXPI as overweight (ie Buy), and a price target of $ 145 which indicates a 9% rise from current levels (To check out Mobley’s background, click here) NXP Semiconductor is another company with a consensus analyst rating Moderate Buy Stock has 19 recent reviews, including 14 buys and 5 takes (See NXPI stock review on TipRanks) Intel Corporation (INTC) Our latest stock is a big stick in the chip world From 1993 to 2017, Intel was the 1 company in the global semiconductor market, in total sales volume It was overtaken by its Korean rival Samsung for 2017 and 2018, but in 2019 Intel regained its crown, with $ 69 83 billion in total semiconductor sales Projections for 2020, however, show that Samsung once again overtakes Intel, even as Intel’s sales are in passes to reach 72 billion d Intel’s problem stems from its success It originally built its market share by dominating the PC and laptop market for processor chips – a vital niche, which continues to hold back the company’s sales But Markets Are Changing Smartphones and tablets are gnawing at the limits of the computing niche as capacity increases, and large-scale rivals like Nvidia (NVDA) and AMD (AMD) compete directly in the computer processor market. And Intel finds other avenues blocked by mid-tier competitors, like Marvell and NXP above, which have taken leadership positions in smaller but rapidly growing segments of the chip industry.1H20 financial results and market performance reflect the uncertainty of Intel’s market position Revenue remains flat at $ 19 billion to $ 20 billion per quarter, but EPS has been declining since Q4 of last year 1Q20 earnings were $ 1.45 per share, down 46% sequentially; 2Q20 EPS fell 15% to $ 1.22 per share and the stock is currently down 10% so far this year, in trading that has been very volatile Adding more fuel to the fire, the analyst at Northland Gus Richard rates INTC an underperformance (i.e. Sell), and his price target of $ 48 implies a 9% drop from current levels (To view Richard’s record, click here) In his comments, the 5-star analyst paints a grim picture of Intel’s future « INTC expects 2H to be down Y / Y INTC continued to sell to Huawei in 1H despite earlier attempts by US Commercial Services to restrict Huawei’s access to US technology We expect sales to Huawei to drop to zero by the end of the third quarter Intel is also losing shares to AMD and Apple is switching to its own processor in laptops. data does not paint a positive picture for IN TC in 2H and beyond Intel is on the wrong track, ”Richard wrote Overall analyst consensus on Intel is a cautious Hold The action has 32 recent ratings, breaking down to 9 buys, 14 takes and 9 Selling (See Intel Stock Analysis on TipRanks) To get great ideas for chip stocks traded at attractive valuations, visit Top Stocks to Buy from TipRanks, a newly launched tool that brings together all the information about stocks Disclaimer: The opinions expressed in this article are those of the featured analysts only The content is intended to be used for informational purposes only It is very important to do your own analysis before making any investment

Jim Cramer discusses the latest stock market news, including his expectations for tonight’s Vice Presidential Debate, Boeing shares, and challenges for General Electric

(Bloomberg) – Taiwan Semiconductor Manufacturing Co reported a 22% stronger-than-expected quarterly sales increase, supported by orders from its biggest customers, including Apple Inc, the world’s largest contract chip maker its revenue for the three months to September climbed to a record NT $ 356 4 billion ($ 12 4 billion), from NT $ 293 billion a year earlier, according to Bloomberg calculations based on monthly sales data released by TSMC Fellow Manufacturers Taiwanese chip makers United Microelectronics Corp and MediaTek Inc on Thursday also reported strong sales, suggesting a broad recovery in the industry, TSMC raised its outlook for 2020 in July, saying revenue would increase this year by more than 20% in dollars the first nine months of the year suggest that Apple’s leading iPhone chipmaker is on track to meet its growth forecasts as the pan Covid-19 demise has fueled demand for home computing equipment The company’s business typically spikes in the months leading up to Apple’s launch of new iPhones and the holiday season It also likely received a boost in the quarter , its second customer Huawei Technologies Co ran to store supplies ahead of a US The ban on shipments to the Chinese telecommunications giant went into effect last month Rival chipmaker Samsung Electronics Co reported on Thursday higher than analyst estimates after Huawei’s mobile phone and chip business benefited from the brakes on Huawei « The strength of demand will continue and pose an upside risk to TSMC’s 4Q20 revenue forecast to be announced next week, » wrote Bernstein analysts led by Mark Li in a note The iPhone ramp is delayed but only sequentially bolsters the 4Q20 Apple’s silicon is increasing and will also fuel the 4T20’s momentum More recently, Huawei’s competitors are aggressive to place orders, all vying to win Huawei’s share « Monthly figures released Thursday showed UMC’s third-quarter revenue to be NT $ 44 billion, roughly in line with the average estimate of analysts polled by Bloomberg MediaTek, who Also counts Huawei as one of its biggest customers, announced monthly revenue up 61%, helping to bring third quarter sales to NT $ 97 billion Which topped the forecast NT $ 86 3 billion TSMC gained 23% on Thursday in Taipei and closed just ahead of its all-time high reached in September 16 Shares jumped nearly 83% from their March lows, as the company rebounds from worst coronavirus-induced disruption MediaTek shares gained 36% while UMC’s, which have nearly doubled this year, jumped more than 9% ahead of the release of sales figures About two-thirds of 5 capacity nanometers of TSMC have been used by Apple’s latest A14 processors ahead of the release of new iPhones, Taipei-based Economic Daily News reported this week, citing unidentified industry sources.The handsets are expected to be unveiled this week. Taiwanese chipmaker to hold third quarter earnings conference on October 15 According to Bloomberg Intelligence, Taiwan Semiconductor Manufacturing’s third-quarter sales of NT $ 356 billion, despite the strengthening of the New Taiwan Dollar, are 5% above company prediction This may be due to larger than expected 5 nanometer A14 chipset orders from Apple and chips at mature nodes, in addition to urgent orders from Huawei This also implies that TSMC’s 3T operating profit could exceed consensus by more than 11%, according to our calculations, assuming an operating margin of 41% – Charles Shum and Simon Chan , Analysts Read research here (Adds MediaTek, UMC monthly sales figures from second paragraph) For more articles like this please visit us at bloomberg Subscribe now to stay ahead with the source of most trusted business news © 2020 Bloomberg LP

Investors brace for a Democratic Party sweep of the White House and both houses of Congress in the November election and it’s bad news for the US bond market

« We hear from our constituents on the right and on the left, » a lawmaker said at a hearing Wednesday where IRS Commissioner Charles Rettig testified

IBM, Cloud computing, corporate spin-off, infrastructure, information technology