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Semiconductors

Kimberly Redmond | Equities.com |

The ongoing semiconductor shortage is now expected to cost the global automotive industry $210 billion in revenue this year, according to global consulting firm AlixPartners.

The forecast released Thursday is almost double the firm's previous projection of $110 billion made in May.


Reuters | Equities.com |

Broadcom Inc forecast fourth-quarter revenue above Wall Street expectations on Thursday, betting on strong demand for its semiconductors from the adoption of 5G technology and a shift to hybrid work models.

Broadcom's efforts to diversify revenue by ramping up investments in its software business has insulated the company from being heavily impacted by supply chain disruptions.


Reuters | Equities.com |

General Motors Co will reduce production at most North American assembly plants this month because of the ongoing semiconductor chip shortage, hitting its profitable truck and sport utility vehicles, it said on Thursday.

The largest U.S. automaker will halt production next week at its Fort Wayne plant in Indiana and its Silao plant in Mexico, both of which build pickup trucks. In total, GM is cutting production at eight North American assembly plants in September.


Kimberly Redmond | Equities.com |

Tesla Inc’s (Nasdaq: TSLA) chief executive officer Elon Musk said the EV maker is delaying deliveries of the new version of its Roadster sports car until 2023, at the earliest.

In a tweet Wednesday, Musk wrote, “2021 has been the year of super crazy supply chain shortages, so it wouldn’t matter if we had 17 new products, as none would ship. Assuming 2022 is not mega drama, new Roadster should ship in 2023.”


Kimberly Redmond | Equities.com |

US officials have given permission to American companies to sell microchips to blacklisted Chinese telecommunications giant Huawei Technologies Co for its growing auto components business.

Citing sources familiar with the matter, Reuters reported on Wednesday that the license application approvals are worth hundreds of millions of dollars.


Kimberly Redmond | Equities.com |

Nvidia Corp’s (Nasdaq: NVDA) bid to acquire Arm Holdings is taking longer than expected as the transaction which seeks to unite the two of the most powerful chip companies in the world has been met with heightened regulatory scrutiny.

During the company's earnings call late Wednesday, in which Nvidia reported reported sales and profit, chief executive officer Jensen Huang said discussions with regulators in the US, UK and China “are taking longer than initially thought,” and the deal may therefore not close within the originally anticipated 18-month window.


Reuters | Equities.com |

The company's upbeat forecast and a strong first-half revenue growth helped send shares of the Hangzhou-based car maker up nearly 4%.

Geely posted a 22% rise in six-month revenue to end-June of 45 billion yuan ($6.94 billion), driven by an improved product mix.


Kimberly Redmond | Equities.com |

A US judge rejected Intel Corporation’s request to throw out a jury verdict ordering the company to pay VLSI Technology $2.18 billion for infringing patents related to chip-making technology.

In a sealed order issued late Monday, Judge Alan Albright of the US District Court for the Western District of Texas denied Intel’s motion for a new trial and allowed the second largest patent verdict in US history to stand.


Kimberly Redmond | Equities.com |

Used car prices will likely remain high until automakers can fix production issues stemming from the ongoing global chip shortage, according to Carvana Co (NYSE: CVNA) chief executive officer Ernie Garcia.

During an appearance Friday on CNBC, Garcia said while sales volume for used cars “is pretty consistent with 2019,” there are “so many fewer new cars being manufactured and that’s pushing prices up.”


Reuters | Equities.com |

Apple Inc said on Tuesday that a global chip shortage that has bit into its ability to sell Macs and iPads will start to affect iPhone production and forecasted slowing revenue growth, sending its shares lower.

Apple executives said revenue for the current fiscal fourth quarter will grow by double-digits but be below the 36.4% growth rate in the just-ended third quarter. Growth will also slow in Apple's closely watched services business, they said.