To: Johnny Canuck who wrote (59178 ) 5/10/2024 2:27:38 AM From: Johnny Canuck Read Replies (1) | Respond to SKIP NAVIGATION TECH Sheila Chiang @IN/SHEILACHIANG @SHEILACHIANG WATCH LIVE SMIC on Friday warned of intense competition as its net income plunged 68.9% from a year earlier to $71.79 million. Gross margin slid to 13.7% in the quarter – the lowest the firm has ever recorded since nearly 12 years – according to LSEG data. “Competition in the industry has been increasingly fierce and the pricing for commodity products basically follows the market trends,” SMIC said on Friday during the firm’s earnings call. Semiconductor Manufacturing International Corporation on Friday warned of intense competition in the chip industry after its first-quarter profit missed expectations.SMIC lags behind Taiwan’s TSMC and South Korea’s Samsung Electronics, according to analysts.net incom e plunged 68.9% from a year earlier to $71.79 million, compared with LSEG analysts’ average estimate of $80.49 million.Gross margin slid to 13.7% in the quarter – the lowest the firm has ever recorded in nearly 12 years – according to LSEG data.WhatsApp .The company was placed on a U.S. trade blacklist in 2020 due to which businesses were required to apply for a license before they could sell to SMIC, limiting its ability to acquire certain U.S. technology.revealed that it runs on a 7-nanometer chip made by SMIC. The smartphone also appears to support 5G connectivity despite U.S. attempts to cut Huawei from key technologies including 5G chips.mass producing 7-nanometer chips in 2018 and currently manufacture 3-nanometer chips — a smaller size denotes more advanced technology.29-year-old’s side hustle made $114K a year, so he quit his job: I’m more successful and I work less UK economy emerges from recession with 0.6% growth in first quarter I spent 18 months and $34,000 traveling the world, but was still unhappy—this was my No. 1 mistake Apple apologizes for iPad Pro ad showing hydraulic press destroying guitars, piano The No. 1 skill companies are hiring for is also the hardest to find, according to new research Jim Cramer says the sell-off may be over, pointing to the correction in Big TechCNBC’s Jim Cramer listed several tech companies that have had notable losses over the past few months, including Nvidia and Microsoft.CNBC Guo Wengui chief of staff Yvette Wang pleads guilty to $1 billion fraud conspiracy in New YorkGuo Wengui, an associate of Trump White House advisor Steve Bannon, is due to stand trial in the fraud case in New York federal court in several weeks.CNBC Jim Cramer predicts this falling chip stock will bounce back despite guidance concernsKevin Stankiewicz 15 HOURS AGO Buffett says Berkshire sold its entire Paramount stake: ‘We lost quite a bit of money’Yun Li News TipsGot a confidential news tip? We want to hear from you.GET IN TOUCH CNBC NewslettersSign up for free newsletters and get more CNBC delivered to your inboxSIGN UP NOW Get this delivered to your inbox, and more info about our products and services. Advertise With Us PLEASE CONTACT US A Division of NBCUniversal Market Data Terms of Use and Disclaimers Data also provided by
