MATT: GOOD MORNING IT IS 5:00 A.M. WITH YOUR BLOOMBERG BRIEF. GOLD FUTURES JUMPED AS THE U.S. IS SAID TO HAVE PUT A TARIFF ON IMPORTS OF ONE KILOGRAM GOLD BARS. THE MOST TRADED IN THE FUTURES MARKET. PRESIDENT TRUMP SAID THAT HE WILL NOMINATE STEVE AND MY WRITTEN FOR A SEAT ON THE FED BOARD AND MET UP PIMCO AND BLUE OWL TO LEAD A 29 MILLION DOLLAR FINANCING FOR ITS DATA CENTER EXPANSION. IN TERMS OF WHAT WE ARE WATCHING ON MARKETS, GAINS FOR THE EQUITY INDEX AND S&P FUTURES UP .2 PERCENT AND NASDAQ FUTURES ...

Shares of Intel under pressure today after President Trump urges for CEO Lip Bhutan to resign, saying in a true social post that quote, "The CEO is highly conflicted and that he must resign immediately as there is no other solution." Lip Bhutan was named Intel CEO back in March taking over for Pat Gellzinger. With the president targeting Intel Seauite, it adds another hurdle for the company amid its turnaround efforts. For more on the rocky terrain for the ship company, let's bring in Bernstein managing dir ...

So joining us now is Stacy Ragson, the senior US semiconductor analyst over at Bernstein. And also here with us is our own Christina Parts. Thank you both for being with us.Uh Christina, I'm going to start things off with you and just how we unpack all of these headlines coming out from tariffs to the calling of a resignation for a main Intel CEO type personality. Yeah, I guess right now it's just there's a 100% tariff, but we take it with a grain of salt. As long as companies can prove that they will or th ...

Day 200 and the tariffs take effect. I guess they'll start there. Is this it.Are we here. This is the tariff regime. Realizing you've got an extension with Mexico, you're working on a deal with China.These are the numbers that we've been waiting for. Yes, well, they will they stay in place the way they are. First of all, thank you for having me.It's great to be back. Look, you know, I think that the restructuring of the global trading system that the president has undertaken and successfully executed has be ...

Tariffs and Trade - President Trump imposed new tariffs on dozens of countries, boasting billions of dollars flowing into the US [2] - An additional 25% tariff was imposed on India for purchasing Russian oil, stacking on an existing 25% tariff, totaling 50% [2][3] - Switzerland faces a tariff increase up to 39% [4] - President Trump proposed a 100% tariff on semiconductors unless companies commit to building in the US [4] - Companies producing goods in the US would get exemptions from additional tariffs [5] Apple's Investment and Tariffs Impact - Apple announced an additional $100 billion investment in the US, bringing the total US investment to $600 billion over the next four years [6][8] - Apple is launching an American Manufacturing Program to spur more production in America for critical components [9] - Apple is making a $25 billion commitment to produce cover glass for iPhones and Apple Watches at Corning's Kentucky facility [11] - Apple's semiconductor-powered devices, including iPhones, will be unaffected by Trump's 25% reciprocal tariffs on goods made in India [12] - Apple took an $800 million hit from tariffs in Q3 and expects another $11 billion in charges in Q4 [15] Market Movers and Earnings - Eli Lilly's revenue came in at $1556 billion for the quarter, better than the expected $147 billion, but shares fell due to weight loss pill results falling short of expectations [33] - ConocoPhillips' earnings per share came in at $142, better than the expected $134, and shares are up almost 2% in pre-market [36] - Warner Brothers Discovery's revenue came in at $981 billion, topping Wall Street estimates, boosted by HBO Max expansion and blockbuster releases [38] - Krispy Kreme missed expectations with a loss of 15 cents per share, against an expected loss of 12 cents, and revenue came in at $3798 million against an expectation of $3802 million [40] Disney and ESPN Deal - The NFL is set to take a 10% stake in Disney's ESPN ahead of ESPN's standalone streaming launch [20] - Disney CFO Hugh Johnston stated the deal would be accretive by about a nickel before purchase accounting [23] - The NFL stake in ESPN could be worth up to $3 billion [23] Oil Market - President Trump upped US tariffs on India to 50% in retaliation for its purchases of Russian oil, which are estimated to be around 2 million barrels a day [49][50] - OPEC plus made moves to hike output by 547000 barrels per day in September [51] Global Market Overview - Asian semiconductor-related stocks traded mixed after President Trump announced a 100% tariff on chip imports with an exemption for companies building in the US [52] - The Bank of England announced an interest rate cut of 25 basis points to 4% [54]

Group 1 - Financial instruments are designed to achieve specific tasks, necessitating a deeper understanding of their mechanics [1] - Tim Worstall is identified as a wholesaler of rare earth metals and an expert in scandium, contributing to various media outlets [1] Group 2 - The article does not provide any investment recommendations or advice, emphasizing that past performance does not guarantee future results [2] - Seeking Alpha clarifies that its analysts are third-party authors, which may include both professional and individual investors without necessary licenses [2]

BING-JHEN HONG Listen below or on the go on Apple Podcasts and Spotify TSMC climbs to record levels as Taiwan says chip giant exempt from Trump tariffs. (00:23) Samsung (SSLNF) shares rise as Apple taps Texas factory for chip supply. (01:10) United Airlines (UAL) resumes operations after technical glitch. (02:15) This is an abridged transcript. TSMC has announced significant investments in the U.S recently, including an initial $65 billion to build three plants in Arizona, and an additional $100 billion U.S ...

Investment & Manufacturing Commitment - Apple commits an additional $100 billion to the US, bringing the total US investment to $600 billion over the next four years [4] - Apple is launching an American manufacturing program to spur more production in America for critical components [5] - American manufacturers are on track to make 19 billion chips for Apple in 24 factories across 12 states this year [8] Supply Chain Localization - Apple is leading the creation of an end-to-end silicon supply chain in America, working with manufacturers like Texas Instruments, Global Wafers America, and Applied Materials [6] - Apple will use American-made advanced rare earth magnets developed by MP Materials in its devices [8] - Every new iPhone and Apple Watch sold globally will contain cover glass made in Kentucky [9] Expansion & Partnerships - Apple has signed new agreements with 10 companies across America [5] - Apple is expanding data center capacity in North Carolina, Nevada, Iowa, Arizona, and Oregon [10] - Apple is partnering with Corning in Kentucky to build the world's largest and most advanced smartphone glass production line [9]

Core Viewpoint - Taiwan Semiconductor Manufacturing Company (TSMC) has shown strong performance in a volatile market, achieving a 17.7% year-to-date gain, outperforming the broader Zacks Computer and Technology sector which rose 10.9% [1][4]. Performance Comparison - TSMC's stock has outperformed several peers, including ASML Holding, ON Semiconductor, and Marvell Technology, which have seen declines of 0.5%, 25.1%, and 30.6% year-to-date, respectively [2]. AI Boom and Growth Potential - The ongoing AI boom positions TSMC as a key player in a multi-year growth cycle, with AI-related revenues tripling in 2024 and expected to double again in 2025, achieving a 40% compound annual growth rate over the next five years [5][7]. - TSMC is investing between $38 billion and $42 billion in capital expenditures for 2025, focusing 70% on advanced manufacturing processes to meet rising AI chip demand [8][11]. Financial Performance - In Q2 2025, TSMC's revenues surged 44% year-over-year to $30.07 billion, with EPS increasing by 61% to $2.47, driven by demand for 3nm and 5nm chips [12][10]. - TSMC raised its revenue growth guidance for full-year 2025 to 30%, up from mid-20% projections, with Q3 revenue expectations between $31.8 billion and $33 billion [13]. Valuation - TSMC's stock trades at a forward 12-month price-to-earnings (P/E) multiple of 22.27, lower than the sector average of 27.47, making it appealing for long-term investors [15]. Near-Term Challenges - TSMC faces near-term challenges, including a 25% electricity price hike in Taiwan, softness in key markets like PCs and smartphones, and higher costs associated with global expansion [18][19][20]. - Geopolitical tensions, particularly U.S.-China relations, pose strategic risks due to TSMC's significant revenue exposure to China [21]. Conclusion - TSMC remains a cornerstone of the semiconductor industry with strong capabilities in advanced chip manufacturing and exposure to AI demand, but short-term headwinds suggest a cautious approach, recommending a hold position for now [22].

Semiconductor stocks sent the emerging-market equity benchmark lower as Trump’s threat to raise tariffs on the sector and an investigation into a theft of trade secrets at TSMC spooked investors https://t.co/QXqkmq96oD ...