Latest news with #GinaRaimondo
Yahoo
2 days ago
- Business
- Yahoo
Micron Plots $200 Billion U.S. DRAM Buildout
Micron Technology (NASDAQ:MU) is boosting its U.S. memory-manufacturing and R&D investment to $200 billion, aiming to onshore 40 percent of its DRAM output. The plan calls for two new high-volume fabs in Idahoone slated to start DRAM production in 2027four more fabs in New York, and an expanded, modernized facility in Virginia, alongside advanced HBM packaging and research initiatives. To finance the buildout, Micron has locked in $275 million under the CHIPS and Science Act and is eligible for up to $6.4 billion in direct funding for its Idaho and New York sites. CEO Sanjay Mehrotra said the move underscores our commitment to driving innovation and strengthening the domestic semiconductor industry, while Commerce Secretary Gina Raimondo added the investment will ensure the U.S. advances its lead across critical industries like AI, automotive, and aerospace and defense. Amazon (NASDAQ:AMZN) Web Services chief Matt Garman praised the expansion as a significant milestone for the semiconductor industry. Even as shares dipped 0.21 percent on the news, analysts note that onshoring DRAM production could shorten supply chains, improve margin visibility and reduce geopolitical risk. Why It Matters: With global memory demand surgingespecially for AI applicationssecuring a domestic production base could give Micron a strategic edge and help the U.S. lessen dependence on overseas fabs. Additionally, Micron Technology has rebounded from earlier lows and now carries a 12-month price target of $121.82, suggesting a modest 5.26% upside. The projections vary widely, with a high-end forecast of $172 and a low of $60, signaling some uncertainty. After dipping below $70 earlier this year, the stock has climbed steadily and analysts seem cautiously optimistic moving forward. This article first appeared on GuruFocus.
Yahoo
2 days ago
- Business
- Yahoo
Micron Plots $200 Billion U.S. DRAM Buildout
Micron Technology (NASDAQ:MU) is boosting its U.S. memory-manufacturing and R&D investment to $200 billion, aiming to onshore 40 percent of its DRAM output. The plan calls for two new high-volume fabs in Idahoone slated to start DRAM production in 2027four more fabs in New York, and an expanded, modernized facility in Virginia, alongside advanced HBM packaging and research initiatives. To finance the buildout, Micron has locked in $275 million under the CHIPS and Science Act and is eligible for up to $6.4 billion in direct funding for its Idaho and New York sites. CEO Sanjay Mehrotra said the move underscores our commitment to driving innovation and strengthening the domestic semiconductor industry, while Commerce Secretary Gina Raimondo added the investment will ensure the U.S. advances its lead across critical industries like AI, automotive, and aerospace and defense. Amazon (NASDAQ:AMZN) Web Services chief Matt Garman praised the expansion as a significant milestone for the semiconductor industry. Even as shares dipped 0.21 percent on the news, analysts note that onshoring DRAM production could shorten supply chains, improve margin visibility and reduce geopolitical risk. Why It Matters: With global memory demand surgingespecially for AI applicationssecuring a domestic production base could give Micron a strategic edge and help the U.S. lessen dependence on overseas fabs. Additionally, Micron Technology has rebounded from earlier lows and now carries a 12-month price target of $121.82, suggesting a modest 5.26% upside. The projections vary widely, with a high-end forecast of $172 and a low of $60, signaling some uncertainty. After dipping below $70 earlier this year, the stock has climbed steadily and analysts seem cautiously optimistic moving forward. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
31-05-2025
- Business
- Yahoo
Nesi's Notes: May 31
Happy Saturday! Here's another edition of my weekend column for — as always, send your takes, tips and trial balloons to tnesi@ and follow me on Twitter, Bluesky and Facebook. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now 1. For Dan McKee, there's no sugarcoating the new UNH poll; a 19% job approval rating is dismal. But it's also much worse than the 43% approval rating McKee scored in a survey conducted last winter by Morning Consult, or the 36% he had in a YouGov survey in March. Could UNH be an outlier? It's possible. But our political analyst Joe Fleming says even if that's the case, McKee should be worried: 'Being between 19% and 43% is not good if you're an incumbent running for reelection.' At 19%, McKee would be in the same disastrous range once tested by Lincoln Chafee, who polled as low as 22% during his term. Chafee abandoned his reelection bid a year before the primary — which would be a few months from now in McKee's case. But there are other analogues, too. Bruce Sundlun's job approval was at 26% in a Brown poll a year out from his 1994 reelection bid, but Sundlun stayed in to the bitter end, losing that year's Democratic primary to Myrth York 57% to 28%. McKee supporters often cite his predecessor, Gina Raimondo, as a more hopeful case — she regularly polled in the 30s, yet won another term fairly easily in 2018. Fleming says it's a useful reminder that polls surveying the general public only tell you so much about what will happen in the next election. In McKee's case, his team is focused on the much smaller subset of voters who will vote in a Democratic primary pitting him against Helena Foulkes. Even there, though, UNH gives cause for alarm. Among registered Democrats, just 16% think McKee deserves to be reelected, while 45% are already open to Foulkes and many more haven't formed an opinion about her yet. 2. That said, it would be a mistake to focus solely on a Dan McKee–Helena Foulkes rematch as the only scenario that could play out next year. If McKee decides to retire, other Democrats are sure to consider a run for the open seat — House Speaker Joe Shekarchi and Secretary of State Gregg Amore spring right to mind, but don't rule out others in such an altered landscape. Attorney General Peter Neronha continues to publicly mull a run, too, saying on this week's Newsmakers that he will make a final decision over the summer. As Joe Fleming noted to me, a multi-candidate primary field could be a boon to McKee if he decides to stay in; the multiplicity of candidates was the reason McKee only needed 33% of the vote to secure the Democratic nomination and a glide path to a full term in 2022. But other potential candidates are well aware of that dynamic, and with Foulkes likely to run no matter what, it would likely give them pause. All of this is already being avidly discussed by political insiders behind the scenes, and those conversations will only heat up once the legislative session comes to an end. 3. Gina Raimondo may want to run for president, but skeptics now have a fresh data point to make the case against her: the UNH poll has 77% of Rhode Island voters saying they definitely or probably don't want Raimondo to return as governor. 4. Other interesting findings from UNH … Senator Reed looks like a safe bet for another term, with 54% of voters saying he deserves reelection; only 33% of Massachusetts voters say the same about Senator Markey … opinions of President Trump are so locked in that his job approval rating has barely budged … one in four Rhode Island voters say no issue is more important than the housing crisis … just 15% say their household finances are better off compared with 12 months ago … there is majority support for 'banning the sale and manufacture of firearms with military-style features.' 5. AG Neronha's big health policy rollout on Wednesday had a number of interesting pieces, from a lawsuit against pharmacy benefit managers like CVS to a bill that would let him put financially distressed hospitals into receivership. But no part of the plan is getting more attention than his call for Rhode Island lawmakers to immediately raise the state Medicaid program's payment rates for primary care to equal what Medicare pays at the federal level. Neronha says a conservative estimate of the cost in state dollars is $50 million — not exactly Washington Bridge money, but still a big ask in a tight budget year. Under current rates, Neronha says, a commercial insurer in Rhode Island pays $200 for a PCP visit, while Medicare pays $100 and Medicaid pays just $37. 'Fixing it is not optional, so when we budget — even if it means going back to the drawing board — we've got to find this money for primary care in particular now or our system will fail. It will fail,' Neronha said on Newsmakers. 6. If AG Neronha's proposal to boost in Medicaid rates is the most immediate fix on offer to address Rhode Island's primary care crisis, the Senate's idea of establishing a public medical school at URI is the most long-term. A draft report was released Friday, laying out how much it could cost to get such a school up and running ($225 million) and how soon the first graduates might have their degrees (about a decade from now). More details in this story. 7. The push for a big investment in primary care goes on the list of issues to watch in the final weeks of the Assembly session. Lawmakers are currently a little behind last year's pace, when the House budget bill came out on May 31, but that's fairly typical for a non-election year when Assembly leaders aren't in as much of a rush to adjourn. There are signs things are moving, though. A revised version of the year's most high-profile bill, the Rhode Island Assault Weapons Ban Act, just got posted for a Tuesday vote in the House Judiciary Committee. And Senate Majority Leader Frank Ciccone's bill to expand online sports gambling options is up for a vote Monday. A fierce battle is being waged over the 'bottle bill' to create a deposit system for recycling, with a group called the Coalition for High Performance Recycling starting radio ads Monday urging lawmakers to pair it with Extended Producer Responsibility (EPR), a policy opposed by some industry players. House Republicans are making a late push to repeal some energy mandates. Then there's the budget, with progressive groups putting on a full-court press to get lawmakers to raise taxes on upper-income earners to bring in some extra revenue. Speaker Shekarchi has been floating the possibility of having lawmakers come back in the fall if the tax hike doesn't make the budget and more money is needed. Lots to watch. 8. One smart Smith Hill observer on Friday pointed out to me a new dynamic when it comes to the timing of the end of session: the establishment of Juneteenth as a state holiday means there is now one fewer weekday in June to wrap up legislative business. 9. For all the talk about Rhode Island's (very real) fiscal challenges, the Wall Street rating agencies have strong faith in the state's ability and willingness to pay its bills. Fitch Ratings on Wednesday upgraded the state's bond rating, which the firm said 'reflects Rhode Island's declining long-term liability burden as a share of personal income, supported by improvements in debt management and growing financial relief from pension changes enacted more than a decade ago.' (S&P and Moody's have also maintained the state's credit rating.) A spokesperson for Governor McKee argued the move by Fitch vindicates 'the McKee administration's cautious and disciplined fiscal management, improved long-term liability outlook, and consistent use of conservative budgeting with strong spending controls.' That approach will be tested in the coming years, as deficits get worse and the pension fund's improving health increases pressure to boost retirement benefits. 10. There is always so much chatter about Peter Neronha's own political future that it can overshadow another big race involving the AG — next year's contest to succeed him. State Rep. Jason Knight, state Sen. Dawn Euer and state Rep. Bob Craven are all frequently mentioned as potential Democratic candidates. Neronha himself could influence the race if he decides to endorse a successor, though he said on Newsmakers he hasn't made up his mind about whether to do so, partly because he doesn't know who will run. Neronha did name two people he'd endorse 'in a heartbeat' if they jumped into the race — former U.S. Attorney Zach Cunha or Deputy AG Adi Goldstein — but so far neither one has indicated plans to jump in. 11. The field is set in the special election to replace the late Dominick Ruggerio representing Senate District 4 in North Providence and Providence. Our Ray Baccari has a breakdown here of the six candidates who filed by Friday's deadline. The primary election is July 8 and the special election is Aug. 5. 12. The House's 55-17 approval of the bill to let Providence raise taxes above the state limit suggests Mayor Smiley should eventually be able to get the measure through the Senate, too, though the slow timing in the upper chamber could jeopardize tax bills getting out on time. Meantime, if you think Providence's proposed 7.5% tax hike is high, Little Compton is seeking permission for an increase of 12%. 13 Next Friday is going to be a big day in the Washington Bridge saga. 14. Massachusetts Attorney General Andrea Campbell — a newly minted South Coast resident since her move to Dartmouth — will hold a campaign fundraiser on Tuesday in New Bedford, per an invitation passed along by a Nesi's Notes tipster. A spokesperson didn't respond to inquiries about the event, but Campbell is up for reelection next year. Any effort to deepen her political ties in the region adds a little more intrigue to speculation that Campbell might someday be a candidate to succeed Congressman Keating. 15. They say there's always a Rhode Island angle, and that includes New Jersey's upcoming gubernatorial primary on June 10. Congresswoman Mikie Sherrill appears to be the favorite to win the Democratic nomination, but one of her chief rivals, Jersey City Mayor Steve Fulop, owns a $4 million oceanfront home in Narragansett (his wife's hometown). But Fulop isn't just another out-of-stater with a summer residence here like Taylor Swift. He made headlines in 2021 when The Boston Globe reported that he'd lambasted a member of the Town Council during a virtual meeting as Narragansett officials were considering whether to allow more public parking near his home. 16. People in the news … Brown University President Christina Paxson has signed a two-year contract extension that will keep her at the helm into 2028 … Congressman Auchincloss will be on 'Fox News Sunday' this weekend … Bob Rapoza has been nominated to the R.I. Board of Elections; he was previously the board's executive director … New Bridges for Haitian Success founder Bernard Georges has been nominated to the RIPTA board … the American Hotel & Lodging Association's Sarah Bratko has been nominated to the R.I. Convention Center Authority … former One Neighborhood Builders CEO Jennifer Hawkins will be the new chief executive of Avesta Housing in Maine … condolences to the family and friends of Belvoir Properties CEO Jim Winoker, who has died at age 93. 17. Weekend reads … Ellen Liberman on the problems facing Rhode Island nursing homes … Michelle San Miguel and Jeremy Bernfeld on fresh questions about inspections of the Washington Bridge … Patrick Anderson on the Superman Building state of play … Christopher Allen on the state's tourism strategy … Sam Graham-Felsen on the challenge of male friendship. 18. Fire up 12+ on your smart TV or set your DVRs: This week on Newsmakers — AG Neronha. Watch Sunday at 5:30 a.m. on WPRI 12 and 10 a.m. on Fox Providence, or listen on the radio Sunday at 6 p.m. on WPRO. You can also subscribe to Newsmakers as a podcast via Apple, Spotify, or wherever you get your podcasts. See you back here next Saturday. Ted Nesi (tnesi@ is a Target 12 investigative reporter and 12 News politics/business editor. He co-hosts Newsmakers and writes Nesi's Notes on Saturdays. Connect with him on Twitter, Bluesky and Facebook. Prefer your Newsmakers on the go?Subscribe to our podcast!Apple | Spotify Download the and apps to get breaking news and weather alerts. Watch or with the new . Follow us on social media: Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Journals
30-04-2025
- Business
- Business Journals
Ballast Equity Partners, hedge fund with ties to Point Judith Capital, raises $93M
A new Providence-based hedge fund with ties to Point Judith Capital has raised nearly $100 million for its inaugural fund. Point Judith is the VC firm co-founded by Gina Raimondo, the former Rhode Island governor who became Commerce Secretary under President Joe Biden, that moved to Boston in 2012.
Yahoo
29-04-2025
- Business
- Yahoo
Apple Bolsters Supply Chain with India Plants
Apple (NASDAQ:AAPL) has kicked off iPhone production at a new Tata Electronics plant in Hosur, India, with Foxconn's $2.6 billion Bengaluru facility set to roll out its first units in May. Warning! GuruFocus has detected 2 Warning Sign with META. The Tata plant, which started operations this month, can crank out 300500 older-model iPhones per hour on a single assembly line, while Foxconn's initial line in Karnataka will soon mirror that pace. Taken together, India's emerging iPhone hubs shipped a record 600 tonsroughly $2 billion worth of devicesto the U.S. in March, with Foxconn accounting for $1.3 billion. Foxconn plans to assemble 25 million30 million iPhones domestically this year, more than double its 2024 output, and Apple reportedly aims to shift U.S.-sold iPhone assembly entirely to India by 2026. When fully built out in December 2027, the Foxconn plant is slated to create 50,000 jobs and add multiple assembly lines. These moves come as Apple races to diversify its supply chain beyond China, where rising U.S. tariffs and geopolitical tensions have clouded the outlook. Though the Trump administration has temporarily exempted smartphones from U.S. tariffs, Commerce Secretary Gina Raimondo has warned that exclusions could end, reinforcing Apple's urgency to spread production risk. India's focus on higher-volume, older models gives Apple a foothold while it fine-tunes newer iPhone lines back in China. Investors should care because boosting Indian output can shield Apple from tariff shocks and provide a springboard for future growth, but the transition carries execution risks: quality control, logistics bottlenecks and workforce training could all trip up production targets. GuruFocus's Forecasts tool suggests that supply-chain diversification is a key factor in AAPL's long-term valuation, offsetting concerns about peak iPhone demand. With first-quarter results out and Q2 guidance due in late July, markets will be watching for any mention of Indian volumes in Apple's next earnings call. Meanwhile, Apple's World Wide Developers Conference in June could offer the first public showcase of devices Made in India, cementing the country's role in the iPhone saga. Apple's GuruFocus Value (GF Value) stands at $193.95, yet the stock currently trades at $210.77reflecting a premium of roughly 8.4%. More conservative models, however, paint a different picture. The earnings power model values Apple at just $60.97, indicating that cautious assumptions around future cash flows severely compress the company's implied profitability. Meanwhile, its net current assets come in at a negative $9.58, reinforcing the idea that Apple's book value is heavily reliant on intangible assets. An earnings-based discounted cash flow (DCF) model estimates fair value at $165.43more than 20% below today's price. Similarly, valuation based on median price-to-sales multiples lands around $127.37, highlighting Apple's premium revenue multiple. Free cash flow projections suggest a valuation of $93.31, less than half of the current trading price. Other methods, including Peter Lynch's valuation ($102.39) and a traditional DCF based on free cash flow ($131.67), also lag well behind market levels. Notably, Apple's tangible book value sits at just $4.44 per share, underscoring that its valuation is built on brand strength and future growth rather than hard assets. In sum, Apple trades between 7% and 64% above nearly all fundamental benchmarkssuggesting investors are pricing in long-term innovation and sustained expansion of its services ecosystem. Any slowdown in these areas could prompt a significant revaluation. This article first appeared on GuruFocus. Sign in to access your portfolio
