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Sector Update: Tech Stocks Fall Late Afternoon

Sector Update: Tech Stocks Fall Late Afternoon

03:51 PM EDT, 10/08/2026 (MT Newswires) -- Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.1% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 4.1%. The Philadelphia Semiconductor index shed 3.8%. In sector news, OpenAI's annualized revenue is about $20 billion less than previously signaled to investors, the Financial Times reported Thursday, citing financial documents shared with backers. The company recently told investors its revenue was approaching $50 billion on an annualized basis at the end of September, well short of the $70 billion reported late last month based on information investors had provided, the report said. In corporate news, Nvidia-backed (NVDA) Firmus Grid is poised to delay its initial public offering amid slack investor demand, Bloomberg reported. The Australian data center company had been looking to raise as much as $5.5 billion including an over-allotment option, indicating a $30.4 billion valuation, and may consider a private funding round instead, the report said. Nvidia shares were down 2.9%. Apple (AAPL) CEO John Ternus is naming his longtime lieutenant Steve Smith as the company's mergers and acquisitions chief, Bloomberg reported. Smith will succeed Adrian Perica, who has run the tech giant's M&A and corporate development function for over a decade, the report said. Apple shares rose 1.4%. Microsoft (MSFT) and Adobe (ADBE) are being suspended from the Permanent Labor Certification Program due to "multiple active federal investigations," US Secretary of Labor Keith Sonderling said Thursday at a press conference. Microsoft shares were down 1.4%, and Adobe was up 3.1%. GlobalFoundries (GFS) struck a multi-year $2 billion deal to supply silicon interposers to Taiwan Semiconductor Manufacturing (TSM) amid growing demand for AI. GlobalFoundries shares were up 2.4%, and Taiwan Semiconductor was falling 3.5%.

MT newswire•2026-10-08 19:51
Sector Update: Tech Stocks Fall Thursday Afternoon

Sector Update: Tech Stocks Fall Thursday Afternoon

01:38 PM EDT, 10/08/2026 (MT Newswires) -- Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 4.3%. The Philadelphia Semiconductor index shed 3.8%. In sector news, OpenAI's annualized revenue is about $20 billion less than previously signaled to investors, the Financial Times reported Thursday, citing financial documents shared with backers. The company recently told investors its revenue was approaching $50 billion on an annualized basis at the end of September, well short of the $70 billion reported late last month based on information investors had provided, the report said. In corporate news, Microsoft (MSFT) and Adobe (ADBE) are being suspended from the Permanent Labor Certification Program due to "multiple active federal investigations," US Secretary of Labor Keith Sonderling said Thursday at a press conference. Microsoft shares were down 1.3%, and Adobe was up 1.5%. GlobalFoundries (GFS) struck a multi-year $2 billion deal to supply silicon interposers to Taiwan Semiconductor Manufacturing (TSM) amid growing demand for AI. GlobalFoundries shares were up 0.4%, and Taiwan Semiconductor was falling 3.4%. Nvidia (NVDA) said Thursday it is committing $1 billion over the next five years to advance the US' capacity for super intelligence research and development in quantum computing, healthcare and energy security and other critical fields. Its shares were falling 2.7%.

MT newswire•2026-10-08 17:38
GlobalFoundries Signs $2 Billion Silicon Supply Deal With Taiwan Semiconductor Manufacturing

GlobalFoundries Signs $2 Billion Silicon Supply Deal With Taiwan Semiconductor Manufacturing

12:57 PM EDT, 10/08/2026 (MT Newswires) -- GlobalFoundries (GFS) struck a multi-year $2 billion deal to supply silicon interposers to Taiwan Semiconductor Manufacturing (TSM) amid growing demand for artificial intelligence. GlobalFoundries will add fabrication capacity at its Malta, New York, facility, and establish the first US-based source of silicon interposers, which enhance the performance and feasibility of semiconductor packaging. Production is expected to begin ramping in the first half of 2028, GlobalFoundries said Thursday. "Advanced packaging is becoming increasingly critical to delivering the performance, power efficiency and scale required for next-generation AI systems," Ed Kaste, senior vice president of CMOS Business at GlobalFoundries, said. The agreement has an initial term of five years and covers a framework for potential capacity expansion, according to GlobalFoundries. GlobalFoundries shares were up 3.2% in Thursday trade, while TSMC's American depositary receipts fell 2.3%. Earlier in October, GlobalFoundries entered into a strategic partnership with Xanadu Quantum Technologies (XNDU) to accelerate utility-scale quantum computing. Last month, GlobalFoundries partnered with SMART Photonics to launch an open-access foundry service for integrated silicon and indium phosphide photonics products. TSMC on Thursday reported revenue of 511.86 billion New Taiwan dollars ($16.02 billion) in September, up 55% from a year earlier. The company's sales declined 0.6% sequentially. In September, Qualcomm (QCOM) agreed to provide custom-built chips and high-speed optical connectivity for Amazon's (AMZN) cloud computing division as part of a collaboration. Price: 50.39, Change: +2.32, Percent Change: +4.83

MT newswire•2026-10-08 16:57
Exchange-Traded Funds, Equity Futures Down Pre-Bell Thursday as Oil Prices Rise After Trump Says He Does Not Want Iran Deal

Exchange-Traded Funds, Equity Futures Down Pre-Bell Thursday as Oil Prices Rise After Trump Says He Does Not Want Iran Deal

09:23 AM EDT, 10/08/2026 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4%, and the actively traded Invesco QQQ Trust (QQQ) slipped 0.6% in Thursday's premarket activity, as oil prices rose after US President Donald Trump said he does not want a deal with Iran to end the war. US stock futures were down, with S&P 500 Index futures dropping 0.5%, Dow Jones Industrial Average futures slipping 0.8%, and Nasdaq futures dropping 0.7% before the start of regular trading. US initial jobless claims fell to a level of 197,000 in the week ended Oct. 3 from 199,000 in the previous week, compared with expectations for an increase to 200,000 in a survey compiled by Bloomberg. Wholesale inventories data for August are expected at 10:00 am ET. Weekly natural gas stocks data are due to be released at 10:30 am ET, and the Atlanta Federal Reserve is expected to update its GDP nowcast estimate around midday. In premarket action, bitcoin was down by 1.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.4% lower, Ether ETF (EETH) retreated 1.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was inactive. Power Play: Technology The State Street Technology Select Sector SPDR ETF (XLK) retreated 0.9%, the iShares US Technology ETF (IYW) was 0.7% lower, and the iShares Expanded Tech Sector ETF (IGM) was down 2.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) dropped by 1.9%. Taiwan Semiconductor Manufacturing (TSM) shares were down 1.5% in premarket activity after Bloomberg reported that the company logged a 51% jump in quarterly revenue, helped by the AI boom. Winners and Losers: Consumer The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.7%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was inactive, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF

MT newswire•2026-10-08 13:23
Exchange-Traded Funds, Equity Futures Down Pre-Bell Wednesday as Traders Await Fed Meeting Minutes

Exchange-Traded Funds, Equity Futures Down Pre-Bell Wednesday as Traders Await Fed Meeting Minutes

09:22 AM EDT, 10/07/2026 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4%, and the actively traded Invesco QQQ Trust (QQQ) was 0.7% lower in Wednesday's premarket activity as traders await the release of the Federal Reserve's September policy meeting minutes. US stock futures were down, with S&P 500 Index futures declining 0.4%, Dow Jones Industrial Average futures slipping 0.7%, and Nasdaq futures falling 0.7% before the start of regular trading. The release of weekly oil stocks data is expected at 10:30 am ET, and the New York Federal Reserve's inflation expectations report for September is expected at 11 am ET. Minutes of the Sept. 15-16 Federal Open Market Committee meeting are planned to be released at 2:00 pm ET, followed by consumer credit data for August at 3 pm ET. Mortgage applications fell by 4.2% in the week ended Oct. 2 as 30-year fixed mortgage rates rose to another three-year high, according to Mortgage Bankers Association data released Wednesday. In premarket activity, bitcoin was down by 2.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.4% lower, Ether ETF (EETH) retreated 4.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat. Power Play: Technology The State Street Technology Select Sector SPDR ETF (XLK) retreated 1%, the iShares US Technology ETF (IYW) was 0.5% lower, and the iShares Expanded Tech Sector ETF (IGM) was up 0.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) fell by 2%. Taiwan Semiconductor Manufacturing (TSM) shares were down 2.1% in premarket activity after Bloomberg News reported that Intel (INTC) Chief Executive Lip-Bu Tan confirmed the company will continue its involvement in Elon Musk's Terafab chip manufacturing project, clarifying earlier statements by Musk about talks with TSM. Winners and Losers: Health Care The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.

MT newswire•2026-10-07 13:22
BUZZ - Micron shares fall as Taiwanese labor union threatens strike over bonus dispute

BUZZ - Micron shares fall as Taiwanese labor union threatens strike over bonus dispute

October 7th - ** Shares of memory chip manufacturer Micron (MU.O) fell 2.8% in pre-market trading to $1,016.26 ** The Taiwan labor union representing Micron Technology employees has won approval for a strike over the bonus plan (link). ** With the memory chip market already facing tight supply, the strike could intensify market concerns over supply ** “The union is aware that memory prices have surged and Micron is generating huge revenues. This gives employees more bargaining power, and investors now need to factor this in,” said Kathleen Brooks, Research Director at XTB ** Shares of other US chipmakers also declined, with Nvidia (NVDA.O), Advanced Micro Devices (AMD.O), and Broadcom (AVGO.O) down 0.68%, 1.95%, and 1.02% respectively ** US-listed shares of contract chip manufacturer TSMC (TSM.N) fell 2.05%, while smartphone chipmaker Qualcomm (QCOM.O) dropped 1.40% ** By the close of the previous trading day, MU’s share price had risen nearly fourfold so far this year, while the Philadelphia Semiconductor Index (.SOX) had gained over 86% (For non-English speakers’ convenience, Reuters provides automated translations of its reports into several other languages. Automated translations may contain errors or lack necessary context; Reuters does not guarantee the accuracy of these translations and provides them solely for reader convenience. Reuters accepts no liability for any harm or loss due to use of the automated translation function.)

路透社•2026-10-07 13:11
Intel Stock Is Defying the Chip Slump as Musk Explains TSMC Role in AI Project -- Barrons.com

Intel Stock Is Defying the Chip Slump as Musk Explains TSMC Role in AI Project -- Barrons.com

By Callum Keown Much ado about nothing? Intel stock was defying the chip slump ahead of the open Wednesday after CEO Lip-Bu Tan and SpaceX's Elon Musk clarified the company's role in the gigantic Terafab AI chip project. It's good news-or at least better news than it might have been when Musk said on Saturday he was in discussions with Taiwan Semiconductor Manufacturing over collaborating on the Tesla and SpaceX project that Intel joined in April. Tan said Intel will continue working on the project, Bloomberg News reported Wednesday, while Musk played down any potential involvement by TSMC. "No, we will build and run the fab. Let there be ZERO doubt about that," he said in a post on X, replying to a suggestion that TSMC could own and run the plant. "Maybe TSMC subleases part of the Terafab if they want, but nothing more than that," he added. While not as bad as perhaps feared, TSMC's involvement still isn't great news for Intel. It seems the market was under the impression Intel would have the project to itself. Intel's shares have fallen 5.7% so far this week but were edging 0.1% higher ahead of the open Wednesday. That's as the broader sector was falling -- the iShares Semiconductor ETF (SOXX) pointed 1.7% lower in premarket trading. Advanced Micro Devices and Micron Technology were around 2% down. Intel stock remains up 205% in 2026, through Tuesday's close. Write to Callum Keown at callum.keown@dowjones.com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires October 07, 2026 08:24 ET (12:24 GMT)

Dow Jones•2026-10-07 12:24
Intel Stock Is Defying the Chip Slump as Musk Explains TSMC Role in AI Chip Project -- Barrons.com

Intel Stock Is Defying the Chip Slump as Musk Explains TSMC Role in AI Chip Project -- Barrons.com

By Callum Keown Much ado about nothing? Intel stock was defying the chip slump ahead of the open Wednesday after CEO Lip-Bu Tan and SpaceX's Elon Musk clarified the company's role in the gigantic Terafab AI chip project. It's good news-or at least better news than it might have been when Musk said on Saturday he was in discussions with Taiwan Semiconductor Manufacturing over collaborating on the Tesla and SpaceX project that Intel joined in April. Tan said Intel will continue working on the project, Bloomberg News reported Wednesday, while Musk played down any potential involvement by TSMC. "No, we will build and run the fab. Let there be ZERO doubt about that," he said in a post on X, replying to a suggestion that TSMC could own and run the plant. "Maybe TSMC subleases part of the Terafab if they want, but nothing more than that," he added. While not as bad as perhaps feared, TSMC's involvement still isn't great news for Intel. It seems the market was under the impression Intel would have the project to itself. Intel's shares have fallen 5.7% so far this week but were edging 0.1% higher ahead of the open Wednesday. That's as the broader sector was falling -- the iShares Semiconductor ETF (SOXX) pointed 1.7% lower in premarket trading. Advanced Micro Devices and Micron Technology were around 2% down. Intel stock remains up 205% in 2026, through Tuesday's close. Write to Callum Keown at callum.keown@dowjones.com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires October 07, 2026 08:22 ET (12:22 GMT)

Dow Jones•2026-10-07 12:22

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What will the price of TSM be in 2027?

Based on TSM's historical price performance prediction model, the price of TSM is projected to reach $0.0002704 in 2027.

What will the price of TSM be in 2032?

In 2032, the TSM price is expected to change by +27.00%. By the end of 2032, the TSM price is projected to reach $0.0008714, with a cumulative ROI of +0.09%.
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