Foxconn could make all US iPhones outside of China if needed, says company
‘We can help Apple respond to its needs in the US market’ By Jon Porter June 11 2019 Jon Porter is a reporter with five years of experience covering consumer tech releases, EU tech policy, online platforms, and mechanical keyboards. A senior Foxconn executive says that the company could move production of all iPhones destined […]
Trump Exempts Phones, Computers, Chips From ‘Reciprocal’ Tariffs
Summary by Bloomberg AI The Trump administration exempted smartphones, computers, and other electronics from reciprocal tariffs, potentially reducing sticker shock for consumers and benefiting electronics giants like Apple and Samsung. The exclusions apply to popular consumer electronics items not made in the US, such as smartphones, laptop computers, and computer processors, as well as machines […]
Nvidia to mass produce AI supercomputers in Texas as part of $500 billion U.S. push
Hayden Field April 14th 2025 CNBC • Nvidia announced a push to produce NVIDIA AI supercomputers entirely in the U.S. for the first time. • Its Blackwell AI chips have started production in Phoenix, Arizona, at Taiwan Semiconductor plants. • The news comes after President Donald Trump imposed high reciprocal tariffs on a long list […]
Morgan Stanley stands by Nvidia as a top pick even though tariff turmoil is not over
Pia Singh April 10 2025 CNBC Morgan Stanley is sticking by Nvidia during the stock’s rocky ride, saying demand for the company’s products should help the artificial intelligence darling outperform and push past tariff concerns. Analyst Joseph Moore reiterated Nvidia as a top semiconductor pick and kept his overweight rating and $162 price target. That […]
Fed Ready to Help Stabilize Market, Fed’s Collins Says: FT
By Jim Silver 04/11/2025 10:40:58 [BFW] (Bloomberg) — The Federal Reserve “would absolutely be prepared” to help stabilize financial markets if conditions become disorderly, Boston Fed President Susan Collins said in an interview with the Financial Times. • “Markets are continuing to function well” and “we’re not seeing liquidity concerns overall,” Collins told FT
House passes budget resolution, Congress moves toward tax bill draft
America’s Credit Unions April 11, 2025 The House passed its budget resolution 216-214 Thursday morning, following Senate passage last week. The budget resolution is a framework for the federal budget, setting spending and revenue targets, and House passage means Congress can now officially work on its budget reconciliation legislation. The House Ways and Means Committee […]
Bill Ackman Calls Out Triple-Levered ETFs, Zero-Day Options Boom
Summary by Bloomberg AI Bill Ackman criticized the use of highly-leveraged exchange-traded funds and zero-day stock contracts, questioning their contribution to society and the economy. Levered funds, which allow investors to magnify their exposure to an underlying asset or index, command around $100 billion and have been popular among day traders. Ackman warned that the […]
US Tariff Revenue Gains Seen as Undercut by Declining Trade
Summary by Bloomberg AI President Trump’s tariffs are expected to generate around $300 billion in annual revenue, with some estimates as high as $600 billion. The tariffs are projected to cause a sharp downturn in trade, with total US imports of goods expected to drop by around 30%. The tariffs could reduce US gross domestic […]
Trump administration backs off Nvidia’s H20 chip crackdown after Mar-a-Lago dinner, NPR reports
By Reuters April 9, 20251:04 PM PDT Updated 4 hours ago April 9 (Reuters) – The Trump administration has reversed course on plans to restrict exports of Nvidia’s H20 artificial intelligence chips to China after CEO Jensen Huang attended a Mar-a-Lago dinner last week, NPR reported on Wednesday. The planned American export controls on the chips — […]
Alphabet CEO reaffirms planned $75 billion capital spending in 2025
By Reuters Las Vegas, April 9 Alphabet (GOOGL.O), opens new tab reiterated on Wednesday it would spend about $75 billion this year to build out data center capacity, doubling down on its generative AI bet even as the payoff remains unclear and a global trade war threatens to raise costs. The investment would fund the […]