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...The state-led march away from foreign hardware will dent US companies in China, starting with the world’s dominant PC processor makers, Intel and AMD....
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...Super Micro Computer was the biggest faller, declining by just under 9 per cent. The Nasdaq Composite rose 0.4 per cent....
...The bullish outlook from members of the “Magnificent Seven” US tech bellwethers could reignite the AI-fuelled rally that accounted for most of the gains on US stock markets in 2023....
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...By contrast Dollar Tree, whose stores are mostly in suburban locations and focus on middle-income households, has fared far better. Its same-store sales rose 6.3 per cent during the quarter....
...Super Micro Computer, a server equipment maker with no credit rating whose share price has more than doubled since the start of the year, was able to raise $1.7bn with zero interest rate....
...The grip of the so-called “Magnificent Seven” tech companies on US stock markets has loosened as investors focus on concrete results rather than solely on artificial intelligence’s potential....
...The company also issued its first statement, stressing that its “primary focus” was the “quality and product integrity of the aircraft structures we deliver” and that it was continuing to work with Boeing...
...Timms will take over from Neal Wolin, former deputy secretary of the US Treasury....
...But less global focus can mean missing out....
...“More focus on 100 per cent uptime and expansion of existing locations,” he wrote....
...The financials and AI investment plans of Google and Microsoft had been in particular focus in light of the experience of rival Meta....
...It is the top performing US airline stock over the past year. Among big US carriers, it appears to be the least affected by Boeing’s production and delivery issues....
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...Kate Calvert, an analyst with Investec, said that like the acquisition of Finish Line, the Hibbett deal “could turn out to be a well-timed acquisition at the bottom of a cycle”, adding that focus was likely...
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...Email us: robert.armstrong@ft.com and ethan.wu@ft.com. CPI: stuck If three data points make a trend, then US inflation looks stuck at 3 per cent....
...Enterprise software company SAP, meanwhile, unveiled a “company-wide transformation” in January that will include the axing of around 8,000 jobs as the company increases its focus on AI....
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