Apple Inc. (NASDAQ: AAPL) kickstarted its virtual Worldwide Developer's Conference Monday, and an analyst at BofA Securities sifted through the announcements to analyze their ramifications for the semiconductor sector.Intel Logged Out of Macs: Apple's decision to replace Intel Corporation (NASDAQ: INTC)-based CPUs with custom ARM processors is a modest headwind to the chip giant, as Mac processors account for roughly 3.5% of Intel's sales, analyst Vivek Arya said in a note.The analyst noted that support for Intel-based Macs will last for the foreseeable future.Apple's plan to switch is a long-term negative but it is unlikely to be replicated in the remaining 90% of the PC market, given ARM-based PCs' struggle for establishing compatibility with the PC ecosystem dominated by x86-based applications, he said. Arya also feels adoption of new ARM-based PCs in late calendar year 2020 and the first-half of 2021 could be slow, as users wait for Apple to fix...
Amazon launched a $2 billion venture capital fund Tuesday to invest in technologies and services aimed at reducing greenhouse gas emissions. Speaking to Yahoo Finance, Amazon’s Head of Worldwide Sustainability Kara Hurst said the move was yet another step to use the e-commerce giant’s 'scale for good' as it sets aggressive targets to become carbon neutral by 2040. ...
(Bloomberg) -- Oil slipped from a three-month high before a U.S. government report expected to show another increase in inventories, signaling the market still has its work cut out to clear a massive supply glut.Crude futures earlier rallied after President Donald Trump insisted the U.S.-China trade deal was “fully intact,” contradicting remarks from a trade adviser that sent markets into a tailspin. While the market has been buoyed in recent days by signs that demand is coming back, renewed fears of a second wave of the coronavirus is spurring some caution.“Crude has had a draw only three weeks since mid-January, so I wouldn’t be surprised to see another build from this week’s report,” said Michael Hiley, head of over-the-counter energy trading at New York-based LPS Futures.The weekly round of U.S. inventory data began with the American Petroleum Institute reporting that U.S. crude stockpiles rose 1.75 million barrels last week, according to...
The American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index only decreased 1% in May to 106.1 after falling 10.3% in April to 107.2. ...
