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š Is Apple Breaking Up Bad(ly) With Intel?
Itās Intel Outside, as far as Apple is concerned going forward
HeyĀ Global Investor, here's what you need to know before the US markets open.
Market Snapshot š
S&P 500Ā (Wednesday Close) 3,572.66Ā +27.13Ā (0.77%)
NASDAQĀ (Wednesday Close) 11,786.43Ā +232.58Ā (2.01%)
FTSE 100Ā (5 PM IST) 6360.21Ā -21.89 (0.34%)
NIFTY 50Ā (Today's Close) 12,690.80Ā ā58.35Ā (0.46%)
USDINRĀ (5 PM IST) 74.63Ā (1 Year +3.72%)
š Is Apple Breaking Up Bad(ly) With Intel?
Itās Intel Outside, as far as Apple is concerned going forward. Appleās āOne More Thingā Event rolled out new Macs with its custom M1 chips as it transitions away from Intel.
Background:Ā Breakups are hard, they say. Not so for Apple.
Back in June, Appleās Tim Cook announced in the Worldwide Developers Conference (WWDC) that the Mac line of personal computers will transition to custom processors. And that started the two-year timeline to complete the transition away from its 15-year partnership with Intel.
Appleās move is an indication of the growing power of the biggest tech companies as they reduce their dependence on major partners and take more control of building their products. This adds to Intelās mounting troubles, which has faced manufacturing and delivery issues for its chips.
What Happened?Ā Ā Appleās āOne More Thing,ā showcased the new 13-inch MacBook Air with the M1 chip. Built with 5-nanometer technology, the M1 sped up the CPU 3.5X, graphics by 5X, and machine learning by 9X, courtesy the 16B transistors the chip hosts. Thatās the most Apple has ever had in a chip. Apple will bring everything about the product under one roof ā from conception, design, software, and the hardware, similar to the workflow of iPhones and iPads.Ā
For Intel, thereās not much impact in the short-term since Apple accounts only for 5% of its revenues, and thereās a two-year runway before Apple fully dissociates from its long-time partner. But the long-term effects could be significant. The chipmakerās high-profit margins have long been linked to its ability to deliver powerful chips. But Intel has fallen behind badly this year. Apple saw the struggle and decided to call time on the relationship.
Market Reaction:Ā Apple stock closed at $119.49, up 3.04% and Intel closed at $46.35, up 2.00%Ā
Company Snapshot š
AAPL $119.49 +3.52 (3.04%)
INTC $46.35 +0.91 (+2.00%)
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Winvesta WritesĀ ā
International investing has become vital for our portfolios as we take part in the global growth story. Adding international stocks to a portfolio offers diversification and may provide higher returns. However, there are both benefits and risks associated with global investing. We will cover a few significant ones in this article.
Later TodayĀ š
6.00 PM IST:Ā Initial jobless claims (regular state program, SA)
6.00 PM IST:Ā Continuing jobless claims (regular state program)
6.00 PM IST: Core CPI
Before Market Open: Weibo Corp Inc Earnings (WB)
After Market Close: Applied Materials Inc Earnings (AMAT)
After Market Close: Unity Software (U)
Fun Fact of The DayĀ š
Jet lag feels worse if you travel from west to east
You can start investing in US stocks with platforms likeĀ Winvesta. Get an account in as little as 15 minutes and start building your global portfolio today.