Exclusive: ASML says next-gen EUV tools ready to mass-produce chips, marking key shift for AI chip production | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]Logo of ASML is displayed at the company's booth at the 8th China International Import Expo (CIIE) in Shanghai, China, November 5, 2025. REUTERS/Maxim Shemetov/File Photo [Purchase Licensing Rights, opens new tab]- Companies- Summary- Full integration into manufacturing expect ...

Core Viewpoint - Nvidia's upcoming fiscal fourth-quarter results and guidance for fiscal 2027 are highly anticipated, with a focus on its pricing power and gross margin performance [1][9]. Group 1: Nvidia's Market Position - Nvidia has established itself as a leader in the AI revolution, with its GPUs dominating enterprise data centers, leading to a share price increase of approximately 1,200% since the beginning of 2023 [2]. - The company has consistently exceeded Wall Street's sales and profit forecasts, indicating strong market performance [2]. Group 2: Gross Margin Importance - Gross margin is a critical metric for assessing Nvidia's fourth-quarter performance and fiscal 2027 outlook, with expectations for it to remain high [4][9]. - Nvidia's gross margin has risen from the low-to-mid 60% range to an estimated 74.8% for the fiscal fourth quarter, reflecting strong pricing power [8]. Group 3: Factors Supporting Pricing Power - Two main factors contribute to Nvidia's pricing power: superior GPU capabilities compared to competitors and a significant demand-supply imbalance in the GPU market [5][6]. - The Hopper (H100), Blackwell, and Blackwell Ultra GPUs are seen as premium products, allowing Nvidia to command higher prices [5]. Group 4: Competitive Pressures - If Nvidia's gross margin guidance for fiscal 2027 falls to the low 70% range or below, it may indicate competitive pressures from rivals like AMD, which offer cheaper and more readily available GPUs [11]. - Other major tech companies are developing their own GPUs or AI solutions, which could impact Nvidia's market share and pricing power in the future [12]. Group 5: Strategic Partnerships - Nvidia's recent expansion of a multiyear GPU agreement with Meta Platforms may alleviate some competitive concerns, but the potential easing of GPU scarcity could negatively affect its pricing power [13].

The Vanguard Total International Stock ETF (NASDAQ:VXUS) and the iShares Core MSCI Emerging Markets ETF (NYSEMKT:IEMG) both aim to provide diversified international equity exposure, but their approaches and underlying indexes set them apart. This comparison examines how each fund’s costs, returns, risk, and portfolio makeup may appeal to different investor objectives. Snapshot (cost & size) Metric VXUS IEMG Issuer Vanguard iShares Expense ratio 0.05% 0.09% 1-yr return (as of Feb. ...

Company Overview - Shift4 Payments operates as a technology-driven payments provider with over 4,000 employees and a diversified merchant base [5] - The company offers integrated payment processing, omni-channel card acceptance, POS solutions, eCommerce platforms, fraud prevention, and business analytics tools [8] - Shift4 Payments focuses on delivering secure, seamless payment experiences across physical and digital channels, leveraging proprietary software and integrated solutions [5][8] Financial Performance - As of February 12, 2026, Shift4 Payments shares were trading at $54.57, reflecting a decline of 54.6% over the past year and underperforming the S&P 500 by 66 percentage points [3] - The company's market capitalization is $4.90 billion, with a trailing twelve months (TTM) revenue of $3.88 billion and a net income of $194.80 million [4] Recent Transactions - The University of Illinois Foundation increased its holding in Shift4 Payments by 67,000 shares during the fourth quarter of 2025, with an estimated transaction value of $4.73 million [1] - This purchase raised the fund's stake in Shift4 Payments to 3.95% of its 13F reportable assets under management (AUM) [2] - The foundation's recent buying activity suggests a strategy of capitalizing on the stock's current lower valuation, as it continues to trade approximately 56% below its 52-week high [9]

It's 9 a. m. in Shanghai, Shenzhen, and here in Hong Kong, you're watching the China show.I'm Annabel Trawlers with David Inglis. Good morning. We're counting down to the open at markets in Greater China.Let's get to your top stories today. Stocks across the Asia-Pacific tracking the the drop that we had a sharp drop. Let me just underscore that point here on Wall Street as the scare trade takes hold.But three in tech stocks are cushioning the blow here amid warnings of a supply shortage in memory chips mad ...

Core Viewpoint - Alphabet's significant increase in capital expenditure (capex) to between $175 billion and $185 billion for 2026 is expected to benefit Broadcom substantially, positioning it as a major winner from this spending surge [1][2]. Group 1: Capital Expenditure Details - Alphabet's capex for 2026 is a substantial rise from $91 billion in 2025, with approximately 60% allocated to servers and 40% to long-duration assets like data centers and networking equipment [1][2]. - The spending on servers will primarily focus on semiconductor chips, while long-duration assets will include networking equipment such as Ethernet switches and fiber optic cables [2]. Group 2: Broadcom's Role and Revenue Potential - Broadcom co-develops Alphabet's tensor processing units (TPUs), essential for Alphabet's AI workloads, and earns around $13,000 in revenue for each chip produced [4]. - Broadcom is a leader in networking, with its Tomahawk Ethernet switches being the industry standard for large-scale data centers, contributing to higher gross margins compared to its custom AI ASIC chip business [5]. Group 3: Financial Impact and Growth Projections - Citigroup estimates indicate that Alphabet accounted for nearly $13 billion in Broadcom's ASIC revenue in fiscal 2025, representing about 17% of Alphabet's capex for that period [6]. - With Alphabet's increased focus on TPUs, Broadcom's TPU revenue from Alphabet could potentially double or triple next year, alongside a significant rise in networking revenue [6]. - Broadcom has secured a $21 billion order from Anthropic for TPUs to be delivered this year, which could lead to a doubling of its total revenue from $63.9 billion in fiscal 2026 [8].

Core Viewpoint - The iShares Core MSCI Emerging Markets ETF (IEMG) and iShares Core MSCI Total International Stock ETF (IXUS) provide different exposures to equities, with IEMG focusing on emerging markets and IXUS covering both developed and emerging markets globally [1] Cost & Size Comparison - IXUS has a lower expense ratio of 0.07% compared to IEMG's 0.09% - As of February 7, 2026, IXUS has a 1-year return of 31.67%, while IEMG has a return of 37.83% - IXUS offers a dividend yield of 3.01%, whereas IEMG has a yield of 2.51% - IXUS has assets under management (AUM) of $54.40 billion, while IEMG has a significantly larger AUM of $137.65 billion [2] Performance & Risk Comparison - Over the past five years, IXUS experienced a maximum drawdown of 30.05%, while IEMG had a higher drawdown of 37.16% - An investment of $1,000 in IXUS would have grown to $1,282 over five years, compared to $1,073 for IEMG [4] Portfolio Composition - IEMG holds 2,707 emerging-market stocks, primarily focused on the tech sector (23%), followed by financials (16%) and industrials (12%) - The top holdings in IEMG include Taiwan Semiconductor Manufacturing, Samsung Electronics, and Tencent Holdings, indicating a strong focus on Asian tech [5] - IXUS tracks an MSCI index with 4,211 securities, with its largest positions also in Taiwan Semiconductor Manufacturing, Samsung Electronics, and ASML Holding - The top sectors for IXUS are financial services (22%), industrials (15%), and technology (12%) [6] Implications for Investors - IEMG aims to maximize growth for holders due to its focus on emerging markets, but both funds share similar top holdings and strong allocations to Asian stocks, leading to comparable volatility [8] - IXUS has outperformed IEMG by over 20% in the last five years and has shown a price return that is over 35% higher since both ETFs launched on October 18, 2012, suggesting IXUS has an edge [9] - For investors seeking a stronger international tech focus, IEMG remains a viable option due to its concentration in tech companies [10]

Core Insights - The article compares two ETFs: the State Street SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) and the iShares Core MSCI Emerging Markets ETF (IEMG), highlighting their differing approaches to global equity exposure and climate alignment [2][9]. Cost & Size Comparison - NZAC has an expense ratio of 0.12% and assets under management (AUM) of $177.97 million, while IEMG has a lower expense ratio of 0.09% and significantly larger AUM of $137.65 billion [3][4]. - The one-year return for NZAC is 15.54%, compared to IEMG's 37.83%, and the dividend yield for NZAC is 1.89%, while IEMG offers 2.51% [3][4]. Performance & Risk Metrics - Over five years, NZAC has a maximum drawdown of -28.29%, while IEMG has a higher drawdown of -37.16%. The growth of $1,000 over five years is $1,440 for NZAC and $1,073 for IEMG [5]. Holdings and Sector Exposure - IEMG holds 2,707 emerging-market stocks, primarily in the tech sector (23%), followed by financials (16%) and industrials (12%), with major holdings including Taiwan Semiconductor Manufacturing, Samsung Electronics, and Tencent Holdings [6]. - NZAC targets companies that meet climate-aligned criteria, holding 729 stocks with a significant focus on technology (32%), financial services (16%), and industrials (10%). Key holdings include Nvidia, Apple, and Microsoft [7]. Investor Implications - IEMG demonstrates superior performance across various metrics compared to NZAC, but NZAC's focus on sustainability may appeal to investors as global climate initiatives progress [9]. - NZAC's lower international exposure may be advantageous for U.S. investors who prefer less volatility associated with foreign assets [10][11].

Core Insights - The State Street SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and iShares Core MSCI Emerging Markets ETF (IEMG) provide diversified stock market exposure but differ in their focus, with SPGM covering the global equity landscape and IEMG concentrating on emerging markets [1] Cost & Size Comparison - Both SPGM and IEMG have an expense ratio of 0.09% - As of February 7, 2026, SPGM has a one-year return of 21.47%, while IEMG has a significantly higher return of 37.83% - IEMG offers a higher dividend yield of 2.51% compared to SPGM's 1.82% - SPGM has an AUM of $1.45 billion, whereas IEMG has a much larger AUM of $137.65 billion [2][3] Performance & Risk Comparison - Over five years, SPGM experienced a maximum drawdown of -25.92%, while IEMG had a larger drawdown of -37.16% - An investment of $1,000 in SPGM would grow to $1,539 over five years, compared to $1,073 for IEMG [4] Portfolio Composition - IEMG holds 2,707 emerging-market stocks, primarily focused on the tech sector (23%), followed by financials (16%) and industrials (12%) - Major holdings in IEMG include Taiwan Semiconductor Manufacturing, Samsung Electronics, and Tencent Holdings, indicating strong exposure to Asian tech [5] - SPGM includes 2,969 holdings with a heavier allocation to technology (26%), featuring top positions in Nvidia, Apple, and Microsoft, reflecting a stronger U.S. tech focus [6] Investor Considerations - Both ETFs are viable for gaining international stock exposure, but IEMG's focus on emerging markets may lead to higher volatility due to the nature of the companies involved [7] - IEMG excludes North American companies, which may result in different price patterns compared to U.S. companies, necessitating awareness of global geopolitical and economic developments for American investors [8]

Core Insights - The iShares Core MSCI Emerging Markets ETF (IEMG) and iShares Core MSCI EAFE ETF (IEFA) are designed for international diversification, targeting emerging and developed markets respectively [2] - IEMG has outperformed IEFA in the past year, but IEFA offers a higher dividend yield [4] Cost and Size Comparison - IEMG has an expense ratio of 0.09% and assets under management (AUM) of $137.65 billion, while IEFA has a lower expense ratio of 0.07% and AUM of $171.77 billion [3] - The one-year return for IEMG is 37.83%, compared to 28.70% for IEFA, with dividend yields of 2.51% and 3.32% respectively [3] Performance and Risk Analysis - Over five years, IEMG has a maximum drawdown of 37.16%, while IEFA has a drawdown of 30.41%, indicating that IEFA has provided steadier growth [5] - A $1,000 investment in IEMG would have grown to $1,073 over five years, while the same investment in IEFA would have grown to $1,338 [5] Portfolio Composition - IEFA includes 2,589 holdings, with major sectors being financial services (22%), industrials (20%), and healthcare (11%), featuring companies like ASML Holding N.V. and Roche Holding AG [6] - IEMG holds 2,707 emerging-market stocks, with a significant tilt towards the tech sector, including top holdings like Taiwan Semiconductor Manufacturing and Samsung Electronics [7] Market Behavior Insights - Emerging markets tend to exhibit higher volatility due to the nature of the companies involved, which can lead to both significant growth and operational risks [8] - Developed markets, represented by IEFA, are characterized by stability and consistent performance, although they may not experience the same price spikes as emerging markets [9]