Nvidia's stock price has fallen. (Igor Golovnov)
Nvidia (NVDA)
Overnight, Nvidia shares fell 4% as global semiconductor stocks and US technology companies fell.
The Nasdaq Composite Index fell more than 180 points on Wednesday as concerns about the Federal Reserve's postponement of interest rate cuts and concerns about China's economic slowdown hit the sector.
Customers are cutting back on purchases to clear inventories, but China's purchases of low-end machinery are holding up as the U.S. restricts access to high-tech equipment.
This is because ASML (ASML), the largest supplier of equipment to computer chip manufacturers, fell short of sales expectations and its stock price fell.
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TSMC (TSM)
Taiwan Semiconductor Manufacturing Company (TSMC) has announced higher-than-expected earnings forecasts as demand for AI-related products increases.
The Taiwanese chipmaker, whose customers include Apple (AAPL) and Nvidia (NVDA), stuck to its plans to spend up to $32bn (£25.66bn) in 2024.
TSMC has gained about $340 billion in market capitalization since its October 2022 bottom on a bet that it will be a top winner in the global AI development boom. Net profit for the March quarter rose 9% to NT$225.5 billion ($7 billion), beating expectations.
“Looking at 2024 as a whole, macroeconomic and geopolitical uncertainties continue, which could weigh on consumer sentiment and end-market demand,” Wei told analysts on a conference call. “There is,” he said.
TSMC announced later this month that it will build a third semiconductor factory in Arizona, increasing its total investment in the United States to $65 billion.
The company already had plans to build two factories in Arizona and another in Germany.
EasyJet (EZJ.L)
EasyJet shares rose more than 3% on Thursday, narrowing losses despite losing revenue due to flight cancellations to Israel and Jordan last winter.
The low-cost airline took a £40m hit from the Middle East conflict, but still cut its losses by more than £50m in the six months to the end of March, with losses between £340m and £360m. We were able to.
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This compares to a loss of £411m in the same period last year, with an 18% increase in fuel costs and an additional 6% inflation per seat.
This year, the early arrival of Easter also benefited, leading to an increase in air travel demand during March.
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easyJet CEO Johan Lundgren said: “Consumers' focus on travel, combined with easyJet's trusted brand, is driving strong demand for our tickets and holidays. “Our focus on growth and productivity has reduced winter losses by more than £50 million.”
“We have opened new locations in Alicante and Birmingham, further strengthening our network and offering even greater choice to consumers across Europe.”
From October to March, passenger numbers increased by 8% year-on-year and average fares paid increased by 9%.
Nokia (NOKIA.HE)
Nokia reported lower-than-expected profits on Thursday, with sales falling by double digits in the first quarter. This is because the market has weakened due to a lack of customers investing in 5G technology.
The Finland-based company reported net profit of 501 million euros (429 million pounds, $535 million) in the January-March period, up 46% from 342 million euros in the same period last year. reported that it did. The figure was still lower than analysts expected.
It was revealed that one-time gains from Nokia's licensing business contributed to profits.
Net income attributable to shareholders amounted to 497 million euros, up from 332 million euros in the same period last year. However, Nokia's sales fell by 20% to 4.7 billion euros.
Network Infrastructure segment sales decreased by 26% in net as well as local currency terms.
The company reiterated its guidance in January that 2024 comparable operating profit would be between 2.3 billion euros and 2.9 billion euros.
JPMorgan analysts said in a note to clients that Nokia's weak sales contributed to the poor performance, but added that the company was well-positioned for a recovery.
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