Oct 21 (Reuters) – Apple and GT Advanced Technologies Inc
struck an agreement on Tuesday that will let GT begin
the shutdown of key Arizona operations, and shed some more light
on why the former stock market darling abruptly filed for
bankruptcy this month.
A lawyer for GT, Apple’s erstwhile sapphire supplier,
described the deal at a hearing in U.S. Bankruptcy Court in
Springfield, Massachusetts, saying it would save the company
money and allow it to be more open about its mysterious Chapter
11 filing on October 6.
SAN FRANCISCO (Reuters) – Broadcom (BRCM.O: Quote, Profile, Research, Stock Buzz) posted third-quarter results on Tuesday that exceeded Wall Street’s expectations as the chipmaker focused on networking and smartphone chips, sending its shares 5 percent higher.
Broadcom, whose wifi connectivity chips are used in Apple’s iPhones, reported third-quarter revenue of $2.26 billion, up 5.3 percent from the year-ago period. Analysts on average had expected third-quarter revenue of $2.17 billion, according to Thomson Reuters I/B/E/S.
SAN FRANCISCO, Oct 21 (Reuters) – Broadcom posted
higher third-quarter revenue on Tuesday that exceeded Wall
Street’s expectations as the chipmaker focused on networking and
broadband chips, sending its shares 4 percent higher.
Broadcom, a leader in connectivity chips with features like
Wifi and Bluetooth, reported third-quarter revenue of $2.26
billion, up 5.3 percent from the year-ago period. Analysts on
average had expected third-quarter revenue of $2.17 billion,
according to Thomson Reuters I/B/E/S.
SAN FRANCISCO (Reuters) – Texas Instruments Inc posted third-quarter results above expectations and its CFO said business was healthy, in contrast to recent concerns on Wall Street about a possible slowdown in chip demand.
The Dallas, Texas-based company’s growth in the third quarter was driven by demand for chips used in communications equipment, industrial markets and automotive, CFO Kevin March told Reuters in a phone interview.
SAN FRANCISCO, Oct 20 (Reuters) – Texas Instruments Inc
posted third-quarter revenue of $3.50 billion, up 8
percent from the year-ago period, and above expectations on Wall
Street following recent concerns about weak industry demand.
Texas Instruments said on Monday its third-quarter net
income rose 31 percent to $826 million. Its earnings per share
were 76 cents.
SAN FRANCISCO (Reuters) – Struggling U.S. chipmaker Advanced Micro Devices Inc (AMD.N: Quote, Profile, Research, Stock Buzz) said on Thursday it was cutting 7 percent of its workforce and it gave a lower-than-expected revenue forecast for the current quarter, sending its shares lower.
The company’s third major round of job cuts since 2011 comes a week after AMD said Chief Executive Officer Rory Read had been replaced by Chief Operating Officer Lisa Su, an unexpected move that sparked speculation about fresh troubles at the chipmaker.
By Nick Brown and Noel Randewich
(Reuters) – The judge overseeing the mysterious bankruptcy of an Apple Inc sapphire supplier on Wednesday voiced skepticism over requests for secrecy and compared the iPhone maker to a demanding homeowner unhappy with how a construction project turned out.
Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out most of its market value and triggering speculation about what may have soured its Apple relationship and torpedoed its prospects.
SAN FRANCISCO (Reuters) – Intel’s (INTC.O: Quote, Profile, Research, Stock Buzz) mobile and communications group took in a scant $1 million in revenue in the third quarter, underscoring the challenge the top chipmaker faces expanding into smartphones and tablets.
The Santa Clara, California-based company on Tuesday reported third-quarter results that beat Wall Street’s expectations, helped by a recovery in personal computers, by far its largest market.
A global slump in personal computer demand that began with Apple Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) launch of the iPad four years ago has stabilized in recent months, in part due to companies replacing employees’ older laptops.
Oct 8 (Reuters) – Advanced Micro Devices said Chief
Operating Officer Lisa Su would immediately replace Rory Read as
chief executive officer as the chipmaker expands beyond its core
personal computer market, sending its shares down 5 percent in
The transition comes just three years into Read’s tenure as
CEO and while analysts applauded the leadership change, some of
them were surprised at the timing.