Latest news with #NationalSecurityTariffInvestigations
Yahoo
4 days ago
- Business
- Yahoo
Trump Teases Tariffs on Foreign Chips in the 'Next Week or So'
President Trump hasn't forgotten about tariffing foreign chips. In an interview with CNBC, Trump indicated he'll introduce tariffs on semiconductors as soon as next week, alongside other duties targeting imports, such as pharmaceuticals. "And within the next week or so, we're going to be announcing tariffs specifically. This is a separate class than the 15% tariffs on sort of everything,' he said, referencing the tariffs he announced last week on goods from the European Union, Japan, and over a dozen other markets. "We're going to be announcing [tariffs] on semiconductor and chips, which is a separate category because we want them made in the United States," Trump added. The president didn't provide details or say if any exemptions will be granted. But the policy will no doubt raise concerns about increased costs for PC processors and a wide variety of electronics that use foreign-made chips. Currently, Apple, AMD, Qualcomm, Nvidia, and even Intel source at least some chip production from Taiwan's TSMC. Although TSMC has started chip production at its first fab in Arizona, a bulk of its semiconductor production is still based in Taiwan. As a result, the contract chip maker urged the Trump administration in May to exempt the company from such tariffs, which it fears will threaten US chip demand. 'It could also undermine TSMC's financial capacity to timely execute its ambitious Arizona project,' the company said, which includes plans for six fabs in the state. In April, Trump exempted chips, smartphones, and laptops from his "reciprocal tariffs' on China. But at the same time, the Trump administration signaled it would eventually tariff Chinese-made electronics separately through a special category of duties. 'We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations,' Trump posted on Truth Social at the time. 'What has been exposed is that we need to make products in the United States, and that we will not be held hostage by other Countries, especially hostile trading Nations like China.'
The Hill
01-05-2025
- Business
- The Hill
Tim Cook says Trump tariffs could cost Apple more than $900M in June quarter
Apple CEO Tim Cook said President Trump's tariffs could tank the company's profits in the second quarter during a Thursday earnings call. 'For the June quarter, currently we are not able to precisely estimate the impact of tariffs, as we are uncertain of potential future actions prior to the end of the quarter,' Cook told attendees. 'However, for some color, assuming the current global tariff rates, policies, and applications do not change for the balance of the quarter and no new tariffs are added, we estimate the impact to add $900 million to our costs,' he added. The president has imposed a 145 percent tariff on China, where most of Apple's products are made. However, Trump partially exempted electronics such as smartphones and computers from the new reciprocal duty on imports. Democrats have questioned the motive behind the move, which would leave some sector-specific companies paying more than others. Cook said in spite of the potential uptick in costs, Apple has 'certain unique factors' that will benefit the June quarter. The industry leader has been spotted with Trump numerous times after his November win and sat closely behind him during the inauguration. But in spite of the budding connection between Cook and the president and Apple's product exemption from tariffs, Trump said no one would be let ' off the hook ' from levies. 'These products are subject to the existing 20 percent Fentanyl Tariffs, and they are just moving to a different Tariff 'bucket,'' the president wrote in a Truth Social post. 'We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations,' he added. Cook said the company would remain a top competitor regardless of what may emerge in the markets. 'For our part, we will manage the company the way we always have, with thoughtful and deliberate decisions, with a focus on investing for the long term, and with dedication to innovation and the possibilities it creates,' Cook said on Thursday's call. 'As we look ahead, we remain confident. Confident that we will continue to build the world's best products and services. Confident in our ability to innovate and enrich our users' lives. And confident that we can continue to run our business in a way that has always set Apple apart.'
Yahoo
17-04-2025
- Business
- Yahoo
Nvidia stock falls again, market cap losses top $250 billion after Trump administration's new export controls
Nvidia (NVDA) stock fell as much as 4% Thursday, extending the AI chipmaker's nearly 7% decline the prior day after disclosing that the US government had effectively banned exports of its chips for China. Nvidia said in a regulatory filing late Tuesday night that it would take a $5.5 billion hit in the first quarter due to the ban on sales of its H20 chips made specifically for the Chinese market to comply with ever-tightening US trade rules. The stock's drop Thursday put Nvidia's market cap at just under $2.5 trillion, meaning the company has shed more than $250 billion since the tighter trade rules were disclosed. JPMorgan analyst Harlan Sur said in a note late Wednesday afternoon that he estimates the change would reduce Nvidia's full-year data center revenue and earnings per share by 8%-10%. In other words, Nvidia would see $15 billion to $16 billion in lost revenue. Jefferies analyst Blayne Curtis predicted a more modest $10 billion hit to revenue. The chip trade curbs from the Trump administration took Wall Street by surprise, given a recent report from NPR that Trump had backed off its plans to restrict Nvidia's H20 chips following a dinner with CEO Jensen Huang at Mar-a-Lago. Nvidia declined to comment on the matter. Just two days after the company's disclosure Tuesday, CEO Jensen Huang traveled to Beijing at the invitation of a domestic trade group, Bloomberg reported Thursday. Earlier this week, Nvidia said it will produce up to $500 billion of AI infrastructure in the US within the next four years as the tech industry looks to bolster its domestic manufacturing footprint in the face of Trump's aggressive approach to trade policy. Trump began preparations to impose tariffs on semiconductors this week as the Commerce Department opened a probe Tuesday into computer chips under Section 232 of the Trade Expansion Act of 1962, which grants the president the authority to impose tariffs on imports seen as essential to national security. Trump has promised that most electronics will still get wrapped up in his tariffs. "We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations," he posted Sunday. Other chip stocks dropped more modestly Thursday after widespread declines the prior day. Nvidia rival Advanced Micro Devices (AMD), also hit by the US' new restrictions on chip exports to China, fell 1%. Broadcom (AVGO) dropped 1.7%, Micron (MU) dipped 2.2%, and Intel (INTC) fell 2.6%. The declines come despite chip manufacturer TSMC (TSM) reporting profits that topped estimates Thursday in a testament to AI chip demand. Laura Bratton is a reporter for Yahoo Finance. Follow her on X @LauraBratton5. Sign in to access your portfolio
Yahoo
17-04-2025
- Business
- Yahoo
Is Amazon.com (AMZN) The Best American Tech Stock to Buy Now?
We recently compiled a list of the 14 Best American Tech Stocks To Buy Now. In this article, we are going to take a look at where Inc. (NASDAQ:AMZN) stands against the other American tech stocks. American stocks moved up a bit on Monday, April 14 as investors focused on news about tech companies getting a break from President Trump's tariffs. The S&P 500 rose by 0.8%, the tech-heavy Nasdaq rose by 0.6%, and the Dow Jones Industrial Average increased by about 0.7%. READ ALSO: 11 Best American Energy Stocks to Buy Now and 10 Best Stocks Under $10 to Buy Now. In recent days, President Trump and his advisers have given mixed signals on the future of tariffs on China and on specific industries. Over the weekend, big American tech companies scored a victory when it was revealed that the US had not put tariffs on smartphones, computers, and other consumer electronics. However, on Sunday, US Commerce Secretary Howard Lutnick stated that these electronics would soon be covered under new tariffs, which would be different from those imposed on specific countries. President Trump also posted on social media that there would be 'no exception' for these products. He also said that the government is looking at semiconductors and the entire electronics supply chain in the upcoming National Security Tariff Investigations. Last week was the best week for the major indexes since at least 2023. However, with all this uncertainty, Wall Street is getting ready for another week of potential tariff-fueled ups and downs. To compile our list of the 14 best American tech stocks to buy now, we used stock screeners from Finviz and Yahoo Finance to find the largest American technology companies. We sorted our results based on market capitalization and picked the top 30 American stocks. Next, we focused on the 14 stocks most favored by institutional investors. Data for the hedge fund sentiment surrounding each stock was taken from Insider Monkey's Q4 2024 database of more than 1,000 elite hedge funds. Finally, the 14 best American tech stocks to buy now were ranked in ascending order based on the number of hedge funds holding stakes in them as of Q4 2024. Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A customer entering an internet retail store, illustrating the convenience of online shopping. Number of Hedge Fund Holders: 339 Inc. (NASDAQ:AMZN), also referred to as simply Amazon, is an American multinational technology company that is primarily focused on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence (AI). AMZN ranks among the best American stocks to buy now. On April 10, Truist Securities reduced its price target on Inc. (NASDAQ:AMZN) from $265 to $230 but kept a 'Buy' rating. The firm expects a general increase in prices and a probable slowdown in consumer spending will impact the company's growth and profit margins. Despite the challenges posed by the tariffs, Truist's analyst sees Inc.'s (NASDAQ:AMZN) diverse business, including e-commerce, advertising, cloud services, and logistics, continuing to gain market share. The analyst believes Inc. (NASDAQ:AMZN) is positioned for long-term success despite challenges like increased tariffs on Chinese goods. These increased tariffs could affect the company's pricing strategies and consumer demand, which could influence financial performance in the short term. However, Truist remains confident in Inc.'s (NASDAQ:AMZN) competitive advantages that will help the company in the long term. Overall, AMZN ranks 1st on our list of the best American tech stocks to buy now. While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
17-04-2025
- Business
- Yahoo
Is Amazon.com(AMZN) The Best American Tech Stock to Buy Now?
We recently compiled a list of the 14 Best American Tech Stocks To Buy Now. In this article, we are going to take a look at where Inc. (NASDAQ:AMZN) stands against the other American tech stocks. American stocks moved up a bit on Monday, April 14 as investors focused on news about tech companies getting a break from President Trump's tariffs. The S&P 500 rose by 0.8%, the tech-heavy Nasdaq rose by 0.6%, and the Dow Jones Industrial Average increased by about 0.7%. READ ALSO: 11 Best American Energy Stocks to Buy Now and 10 Best Stocks Under $10 to Buy Now. In recent days, President Trump and his advisers have given mixed signals on the future of tariffs on China and on specific industries. Over the weekend, big American tech companies scored a victory when it was revealed that the US had not put tariffs on smartphones, computers, and other consumer electronics. However, on Sunday, US Commerce Secretary Howard Lutnick stated that these electronics would soon be covered under new tariffs, which would be different from those imposed on specific countries. President Trump also posted on social media that there would be 'no exception' for these products. He also said that the government is looking at semiconductors and the entire electronics supply chain in the upcoming National Security Tariff Investigations. Last week was the best week for the major indexes since at least 2023. However, with all this uncertainty, Wall Street is getting ready for another week of potential tariff-fueled ups and downs. To compile our list of the 14 best American tech stocks to buy now, we used stock screeners from Finviz and Yahoo Finance to find the largest American technology companies. We sorted our results based on market capitalization and picked the top 30 American stocks. Next, we focused on the 14 stocks most favored by institutional investors. Data for the hedge fund sentiment surrounding each stock was taken from Insider Monkey's Q4 2024 database of more than 1,000 elite hedge funds. Finally, the 14 best American tech stocks to buy now were ranked in ascending order based on the number of hedge funds holding stakes in them as of Q4 2024. Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A customer entering an internet retail store, illustrating the convenience of online shopping. Number of Hedge Fund Holders: 339 Inc. (NASDAQ:AMZN), also referred to as simply Amazon, is an American multinational technology company that is primarily focused on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence (AI). AMZN ranks among the best American stocks to buy now. On April 10, Truist Securities reduced its price target on Inc. (NASDAQ:AMZN) from $265 to $230 but kept a 'Buy' rating. The firm expects a general increase in prices and a probable slowdown in consumer spending will impact the company's growth and profit margins. Despite the challenges posed by the tariffs, Truist's analyst sees Inc.'s (NASDAQ:AMZN) diverse business, including e-commerce, advertising, cloud services, and logistics, continuing to gain market share. The analyst believes Inc. (NASDAQ:AMZN) is positioned for long-term success despite challenges like increased tariffs on Chinese goods. These increased tariffs could affect the company's pricing strategies and consumer demand, which could influence financial performance in the short term. However, Truist remains confident in Inc.'s (NASDAQ:AMZN) competitive advantages that will help the company in the long term. Overall, AMZN ranks 1st on our list of the best American tech stocks to buy now. While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
