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Citigroup has lowered its price target on Micron Technology to $120 from $150 while maintaining a Buy rating. Micron specializes in semiconductors, with a diverse product range including memory products and systems, and generates significant sales from IT infrastructure, mobile devices, and storage media. The company operates 11 manufacturing sites globally, with the majority of its net sales coming from the United States.
Barclays has raised its price target on Micron Technology to $115 from $110 while maintaining an overweight rating. Micron specializes in semiconductors, with a diverse product range including memory products and systems, and generates significant sales from IT infrastructure, mobile devices, and storage media. The company operates 11 manufacturing sites globally, with the majority of its net sales coming from the United States.
Taiwan's export orders surged 31% year-on-year in February, reaching US$49.45 billion, fueled by strong demand for AI and high-performance computing chips, as well as new smartphone launches. The ministry anticipates further growth in March, projecting orders to hit between US$52 billion and US$54 billion. However, non-technology sectors are struggling, with declines in base metals, plastics, rubber, and chemicals.
Foxconn has signed an agreement to manufacture electric vehicles for Mitsubishi Motors in Taiwan, marking a significant move into the EV contract manufacturing sector. While the production timeline remains unclear, the initial vehicles will be aimed at the Australian and New Zealand markets. Mitsubishi has expressed openness to partnerships, aligning with Foxconn's strategy to diversify beyond consumer electronics.
Several Tata Group companies have become global suppliers for Tesla, contributing to approximately $2 billion in Indian supplies for FY24. These partnerships include Tata AutoComp, Tata Consultancy Services, Tata Technologies, and Tata Electronics, which are poised for growth as Tesla explores local manufacturing in India. The collaboration aims to enhance Tesla's supply chain by sourcing various components, reducing reliance on China, and creating opportunities for Indian suppliers.
Yvonne Yiu, co-head of HSBC’s Global Payment Solutions for Asia-Pacific, emphasizes the shift towards instant, digital payments, positioning HSBC as a leader in cash management. With a focus on real-time payment infrastructure, Yiu aims to support clients' global expansion while promoting female leadership within the bank, targeting a 35% representation of women in senior roles. HSBC fosters a supportive work environment, encouraging relaxed dress codes and training for women bankers to advance their careers.
Huawei has launched its Pura X smartphone, the first in its flagship series to run entirely on HarmonyOS Next, featuring an AI assistant capable of humanlike emotional interactions. The device, powered by Huawei's Pangu large language model and enhanced by DeepSeek's AI, marks a significant step in the company's efforts to reduce reliance on Android. As Huawei aims to expand its ecosystem, it has attracted major apps to its AppGallery, while its smartphone market share in China has seen a rise despite ongoing challenges in the global market.
TSMC is at risk of losing its title as Asia's largest company by market value to Tencent by 2025, as investor interest in Tencent's AI initiatives grows. TSMC's shares have dropped 11% this year amid a global chip downturn, while Tencent's stock has risen 30%, reducing the market cap gap to US$109 billion. Additionally, TSMC has experienced a decline in foreign investment, with ownership falling to 72.7%, the lowest since late 2023.
Taiwan Semiconductor Manufacturing Co. (TSMC) has announced a significant $100 billion expansion of its operations in the United States to boost semiconductor production. This move, revealed by CEO C.C. Wei, aligns with a broader trend of Taiwanese companies increasing their investments in the US, including Foxconn's collaboration with Apple on an AI server assembly site in Texas. Other firms like Wiwynn Corp., Quanta Computer Inc., and Compal Electronics Inc. are also making substantial investments in US facilities.
Foxconn, the largest contract electronics manufacturer, expects its AI server revenue to surpass iPhone sales within two years, potentially as early as this year. Chairman Young Liu highlighted strong demand for AI servers, projecting revenue could reach T$1 trillion (US$30.29 billion) by 2025, making up over half of total server revenue. Additionally, revenue from cloud and networking products is anticipated to match that of smart consumer electronics like iPhones in the same timeframe.
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citigroup lowers microns price target to 120 while maintaining buy rating
11:26 21.03.2025
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