The rippling effect the global chip shortage inflicted on Big Tech firms manifested into Apple’s fourth quarter (Q4) revenues, reporting in a $6 billion loss that could potentially delay manufacturing plans, according to CEO Tim Cook. The Big Tech titan revealed Thursday its financial report for the fiscal year 2021, failing to accommodate Wall Street expectations, an outcome heavily attributed to […]
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The record number of developing nations at risk of a debt crisis will be high on the agenda next week when central bankers, finance ministers and political leaders convene for the World Bank Group and International Monetary Fund (IMF) spring meetings. Ballooning inflation, escalating borrowing costs and a strong dollar have made repaying loans and […]
After the COVID-19 crisis took the world by surprise, global industries suffered the wrath of the pandemic on the economy. One industry, in particular, witnessed the most damaging crisis in its history. Manufacturers of graphic processing units (GPU) were exceptionally vulnerable to the economic outcomes of the pandemic, which was also catastrophically affected by the […]
The COVID-19 pandemic altered the dynamic on a global scale, hitting all sectors and industries, be it public or private sectors. The overtake of the pandemic entered the world in a digital revolution no one had forecasted. Digital transformation directed the societies and industries towards a hasty adaptation of the new norm, altering every dynamic […]
Cisco Systems Inc cut its full-year earnings forecast on Wednesday after COVID lockdowns in China and the war in Ukraine dragged sales below estimates in the third quarter, sending shares down 13% in extended trading. It also said fourth-quarter revenue would decline by 1% to 5.5%, becoming the latest U.S. company to outline a hit […]
Semiconductors power the modern world. They are tiny chips that hold the key to components in every electronic device we use today. Fridges, washing machines, laptops, cellphones, cars, and even military equipment and countrywide power grids are powered by a bit of chip no bigger than a toddler’s fingernail. Even the machines that produce semiconductors […]
Samsung, the South Korean electronics giant, revealed a new record in its 2021 fourth quarter (Q4), marking an annual operating profit of $42.9 billion and $232.4 billion in revenue. Compared to its third-quarter (Q3) revenue, Samsung hit a whopping $11.5 billion in operating profit and $63.6 billion in revenues. The heightened capital for the electronics […]
In September 2021, the U.S. Department of Commerce (DOC) issued a Request for Information (RFI) to collect data concerning the intensively heightened chip shortage following the Covid-19 pandemic. In its findings, the DOC revealed that it is expecting the chip shortage to last another six months, well into mid-2022. The RFI’s report evidenced that the […]
Consulting firm, Deloitte, released on Wednesday its latest report addressing the ongoing global semiconductor crisis, with predictions of the crunch to last till early 2023. Deloitte’s research stated that even though the chip shortage crisis’ intensity will be far less severe than it is now, chances are customers will wait around 10 to 20 weeks for a […]
Taiwan’s Economy Minister Wang Mei-Hua revealed on Tuesday that the U.S. discussed with its country potential plans to address the semiconductor chip shortage, in addition to finding the needed approaches to counter China’s economic “coercion.” During the second session of an economic dialogue initiated last year, the discussion followed a week after a virtual meeting […]