United Microelectronics Azioni (NYSE: UMC)

Ultime notizie per United Microelectronics (NYSE:UMC) Azioni

United Microelectronics

Founded in 1980, United Microelectronics is the world's third-largest dedicated chip foundry, with 7% market share in 2023 after TSMC and SMIC. UMC's headquarters are in Hsinchu, Taiwan, and it operates 12 fabs in Taiwan, Mainland China, Japan and Singapore, with additional sales offices in Europe, the US, and South Korea. UMC features a diverse customer base that includes Texas Instruments, MediaTek, Qualcomm, Broadcom, Xilinx, and Realtek, supplying a wide range of products applied in communications, display, memory, automotive and more. UMC employs about 20,000 people.

United Microelectronics Corporation (NEW) Common Stock

United Microelectronics Corp

UMC Inc

UNITED MICR ELCTRNS ADR REP 5 ORD

JP Morgan analyst Gokul Hariharan downgrades United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) from Overweight to Neutral.

News

Downgrades

Analyst Ratings

JP Morgan Downgrades United Microelectronics to Neutral

WIIM

United Microelectronics shares are trading lower after the company reported worse-than-expected Q3 EPADS results.

Taiwan-based United Microelectronics Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) reported a <a href="https://www.benzinga.com/pressreleases/24/10/b41620123/umc-reports-third-quarter-2024-results">third-quarter fiscal 2024</a> revenue growth of 6% year-on-year to $1.91 billion (NT$60.49 billion).
The company beat the analyst consensus estimate of $1.88 billion. 
<ul>
<li>The revenue increased by 6.5% quarter over quarter.</li>
<li>Earnings per ADS of $0.183 beat the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">analyst consensus estimate of 17 cents</a>.</li>
<li>Revenue from 22 and 28nm was 35% of the wafer revenue, while the 40nm contribution declined to 13% of&nbsp;sales.&nbsp;</li>
<li>The gross margin declined by 210 basis points Y/Y to 33.8%. Capital expenditure spending totaled $688 million in the quarter.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/news/24/10/41607481/apples-refreshes-mac-mini-smaller-form-factor-m4-chip-power-and-carbon-neutral" target="_blank" rel="noreferrer noopener">Apple Refreshes Mac Mini: Smaller Form Factor, M4 Chip Power, Carbon Neutral</a>
Q4 Outlook: The company is seeing demand stabilize across end markets and a clear downward trend in inventory levels. 
&#8220;Looking ahead, we have a number of exciting technology and collaboration projects in the pipeline as we continue to align closely with our customers' product roadmaps,&#8221; Jason Wang, co-president of UMC said. &#8220;In addition, as we hear consistently from customers, UMC's diversified manufacturing footprint is also very important in supporting their long-term strategies. Our new fab expansion in Singapore is nearing completion while our collaboration with Intel remains on track."
UMC <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">expects fourth-quarter</a> wafer shipments and ASP in USD to stay flat quarter-over-quarter. It also expects capacity utilization to be in the high-60% range. UMC expects a 2024 capex of $3.0 billion (<a href="https://www.benzinga.com/news/earnings/24/07/40074251/semiconductor-foundry-umc-reports-q2-earnings-beat-strong-q3-demand-expected-in-communication-and-c" target="_blank" rel="noreferrer noopener">prior $3.3 billion</a>).
United Microelectronics stock lost 11% year-to-date. At least two Wall Street firms including Morgan Stanley and Goldman Sachs <a href="https://www.benzinga.com/quote/UMC/analyst-ratings" target="_blank" rel="noreferrer noopener">downgraded rating on</a> the stock in October.
Republican candidate and Ex-President Donald Trump <a href="https://www.benzinga.com/government/24/10/41604100/trump-goes-after-taiwan-semiconductor-on-joe-rogan-podcast">criticized Taiwan for</a> allegedly harming the U.S. chip industry during an appearance on the Joe Rogan podcast. He also took aim at the CHIPS Act, promising tariffs on Taiwanese chips if he wins the presidency. Previously, he questioned the U.S. defense commitment to Taiwan, noting the lack of a formal treaty as seen with South Korea and Japan.
Price Action:&nbsp;UMC stock is up 1.08% at $7.49 premarket at the last check Wednesday.
Also Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41605759/paypals-solid-transaction-growth-boosts-jp-morgans-confidence-yet-q4-revenue-guidan" target="_blank" rel="noreferrer noopener">PayPal&#8217;s Solid Transaction Growth Boosts Confidence, Yet Q4 Revenue Guidance Dampens Enthusiasm: Analyst</a></li>
</ul>

Earnings

Guidance

Semiconductor Company UMC Surpasses Q3 Revenue Expectations, Eyes Growth With New Projects In Pipeline

United Microelectronics Expects Q4 Wafer Shipments And Average Selling Price To Remain Flat QoQ

Earnings Beats

Earnings Misses

United Microelectronics Q3 2024 GAAP EPADS $0.18 Misses $0.19 Estimate, Sales $1.910B Beat $1.883B Estimate

Morgan Stanley analyst Joseph Moore downgrades United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) from Overweight to Equal-Weight.

Morgan Stanley Downgrades United Microelectronics to Equal-Weight

Goldman Sachs analyst Bruce Lu downgrades United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) from Buy to Neutral and announces $7.4 price target.

Price Target

Goldman Sachs Downgrades United Microelectronics to Neutral, Announces $7.4 Price Target

A poll conducted by Taiwan&#8217;s Institute for National Defence and Security Research reveals that a majority of Taiwanese citizens believe a Chinese invasion is unlikely within the next five years. This survey involved around 1,200 participants and highlights the current sentiment in Taiwan regarding potential military threats from China.
What Happened: 61% of respondents consider an attack by China &#8220;unlikely or very unlikely&#8221; in the near future. Despite this, many Taiwanese still view China&#8217;s territorial ambitions as a significant threat, as noted by Christina Chen, a researcher at the institute, according to Reuters on Wednesday.
The poll also reveals that over 67% of Taiwanese are willing to resist if an attack occurs, though opinions are divided on the capability of Taiwan&#8217;s military to defend the island. Additionally, mixed sentiments exist about U.S. involvement in Taiwan&#8217;s defense, with 74% expecting indirect support but only 52% believing in direct military intervention. Researcher Lee Kuan-chen emphasized the need for transparency in Taiwan-U.S. security cooperation to manage public expectations effectively.
See Also: <a href="https://www.benzinga.com/markets/asia/24/10/41223117/alibaba-tencent-jd-com-and-baidu-slide-over-8-as-chinas-28b-stimulus-boost-misses-the-mark?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Alibaba, Tencent, JD.com And Baidu Slide Over 8% As China&#8217;s $28B Stimulus Boost Misses The Mark</a>
Why It Matters: The geopolitical landscape surrounding Taiwan has significant implications for the <a href="https://www.benzinga.com/government/22/10/29230444/taiwan-reasons-why-it-is-futile-for-us-and-china-to-harm-tsmc">global semiconductor industry.</a> Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) a key player in the industry, has seen its<a href="https://www.benzinga.com/government/24/10/41140484/taiwan-semiconductor-has-soared-96-but-geopolitical-risks-persist"> stock soar by 96%</a> over the past year, driven by increased demand for AI chips. The company is advancing its 2-nanometer technology, keeping it ahead of China by at least a decade, as noted by Taiwan's National Science and Technology Council.
The evolving geopolitical tensions have led Taiwanese chip firms, including Alchip Techs, to <a href="https://www.benzinga.com/markets/asia/24/02/37254196/taiwanese-chip-firms-flock-to-japan-as-china-decoupling-accelerates">expand operations in Japan</a>, reshaping the global semiconductor landscape. This move aligns with the U.S. efforts to curb China&#8217;s advancements in cutting-edge semiconductors.
<a href="https://www.benzinga.com/news/24/07/39878513/nvidia-apple-supplier-tsmc-and-other-us-listed-taiwan-stocks-trading-lower-in-pre-market-after-biden">Recent political developments</a>, such as U.S. President Joe Biden&#8217;s withdrawal from the presidential race, have impacted Taiwanese stocks, including United Microelectronics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) and ASE Technology Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASX#NYSE">ASX</a>), which experienced dips in the U.S. pre-market. These fluctuations underscore the sensitivity of Taiwanese companies to geopolitical shifts.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/asia/24/10/41213691/fast-and-furious-rally-pushes-chinese-stocks-to-double-s-p-500-performance-year-to-date?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Fast And Furious Rally&#8217; Pushes Chinese Stocks To Double S&amp;P 500 Performance Year To Date</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Global

General

Majority Of Taiwanese Citizens Downplay Invasion Threat From China Within Next 5 Years: Here Is How TSMC, UMC And Others Would Be Impacted

Revenues for September 2024
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
Period
</td>
<td colspan="1" rowspan="1">
2024
</td>
<td colspan="1" rowspan="1">
2023
</td>
<td colspan="1" rowspan="1">
Y/Y Change
</td>
<td colspan="1" rowspan="1">
Y/Y (%)
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
September
</td>
<td colspan="1" rowspan="1">
18,942,714
</td>
<td colspan="1" rowspan="1">
19,052,938
</td>
<td colspan="1" rowspan="1">
-110,224
</td>
<td colspan="1" rowspan="1">
-0.58%
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Jan.-Sep.
</td>
<td colspan="1" rowspan="1">
171,916,474
</td>
<td colspan="1" rowspan="1">
167,574,722
</td>
<td colspan="1" rowspan="1">
4,341,752
</td>
<td colspan="1" rowspan="1">
2.59%
</td>
</tr>
</tbody>
</table>

Tech

United Microelectronics Reported Net Sales Decline Of 0.58% YoY In September 2024

AMAT

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NXPI

Shares of semiconductor stocks are trading lower amid a possible pullback. The sector recently surged on strong earnings from Micron.

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LRCX

Maxeon Solar Technologies, Ltd. - Ordinary Shares

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Semiconductor shares are trading higher amid possible sympathy with NVIDIA. At the ABC 2024 Presidential Debate, Vice President Harris said she wants to invest in American-based technology to win the race on AI and quantum computing.

Taiwan's Economy Minister,&nbsp;Kuo Jyh-huei, expressed that former President&nbsp;Donald Trump&nbsp;misunderstood Taiwan's <a target="_blank" href="https://www.benzinga.com/news/24/09/40673345/trump-misunderstands-taiwans-role-in-chip-industry-says-economy-minister-the-president-has-a-lot-on" rel="noreferrer noopener">role in the semiconductor industry</a>.
The Brazilian government is considering taxing large tech companies. It may also implement a 15% global minimum tax on multinational corporations <a href="https://www.benzinga.com/news/24/09/40680965/brazil-considers-tax-on-big-tech-companies-to-meet-2025-fiscal-goals-after-banning-elon-musks-x-and" target="_blank" rel="noreferrer noopener">to achieve its 2025 fiscal target</a>.
Read: <a href="https://www.benzinga.com/news/24/09/40682766/while-bill-gates-elon-musk-and-sam-altman-debate-ais-impact-on-jobs-it-might-not-be-all-that-distres" target="_blank" rel="noreferrer noopener">While Bill Gates, Elon Musk, And Sam Altman Debate AI&#8217;s Impact On Jobs, It Might Not Be All That Distressing And Offer A Productivity Boost</a>
Gaming
Ubi Soft Entertainment ADR&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/UBSFY#OTC">UBSFY</a>) recent release of Star Wars Outlaws, developed by&nbsp;Massive Entertainment, has failed to deliver the <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40717689/star-wars-outlaws-sales-slump-ubisoft-shares-hit-near-10-year-low" rel="noreferrer noopener">financial boost the&nbsp;company had hoped for</a>.
Rocksteady Studios&nbsp;has reportedly laid off several employees following the disappointing performance of its latest title,&nbsp;Suicide Squad: Kill the Justice League, which cost Warner Bros. Discovery Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40698283/warner-bros-discoverys-rocksteady-studios-cuts-jobs-after-suicide-squad-flop-report" rel="noreferrer noopener">$200 million in revenues</a>.
Sony Group Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) CFO&nbsp;Hiroki Totoki&nbsp;admitted that the company, despite its impressive portfolio, lacks enough intellectual properties (IP) that <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/09/40741541/sony-cfo-admits-we-dont-have-enough-ips-we-fostered-from-the-beginning-can-sony-compete-wit" rel="noreferrer noopener">it has&nbsp;&#8220;fostered from the beginning</a>.&#8221;
Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40740578/differentiation-is-key-nyan-heroes-ceo-talks-unique-ip-new-playtest-features-on-epic-games-store" rel="noreferrer noopener">&#8216;Differentiation Is Key&#8217;: Nyan Heroes CEO Talks Unique IP, New Playtest Features On Epic Games Store</a>
Smartphones
Amid ongoing debates about regulating teen smartphone use,&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly opposing legislative efforts requiring it to <a target="_blank" href="https://www.benzinga.com/government/24/09/40674661/apple-gears-up-to-push-back-against-legislation-enforcing-age-restrictions-in-app-store-report" rel="noreferrer noopener">enforce age restrictions on apps</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40674140/huawei-plans-to-one-up-apples-iphone-16-with-disruptive-product-launch-says-it-has-turned-science-fi" rel="noreferrer noopener">Huawei Plans To One-Up Apple&#8217;s iPhone 16 With &#8216;Disruptive&#8217; Product Launch, Says It Has &#8216;Turned Science Fiction To Reality&#8217; After 5 Years Of Research</a>
Apple could likely discontinue some of its products&nbsp;following its annual iPhone event on Sept. 9. Following the keynote, these Apple products are expected to <a target="_blank" href="https://www.benzinga.com/news/24/09/40680904/7-products-apple-will-likely-discontinue-next-week-after-iphone-16-launch" rel="noreferrer noopener">be removed from the Apple Store</a>.
Apple has reportedly decided to incorporate&nbsp;organic light-emitting diode or OLED displays&nbsp;in all&nbsp;iPhone&nbsp;models, including the <a target="_blank" href="https://www.benzinga.com/news/24/09/40699698/apple-reportedly-plans-to-switch-to-oled-for-all-iphones-starting-2025-not-just-the-top-tier-flagshi" rel="noreferrer noopener">lower-priced&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40699698/apple-reportedly-plans-to-switch-to-oled-for-all-iphones-starting-2025-not-just-the-top-tier-flagshi" rel="noreferrer noopener">iPhone SE</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40699698/apple-reportedly-plans-to-switch-to-oled-for-all-iphones-starting-2025-not-just-the-top-tier-flagshi" rel="noreferrer noopener">, from 2025</a>.
Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40713896/apples-glowtime-event-will-the-iphone-16-shine-or-fizzle" rel="noreferrer noopener">Apple&#8217;s Glowtime Event: Will The iPhone 16 Shine Or Fizzle?</a>
TV, Streaming Platform &amp; Social Media
A failed distribution agreement between&nbsp;Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and&nbsp;pay-TV provider&nbsp;DirecTV,&nbsp;owned by&nbsp;AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) and&nbsp;TPG Capital, has led to more than <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/09/40670016/disney-and-directv-fail-to-reach-deal-over-11m-subscribers-face-blackout-ahead-of-nfl-seaso" rel="noreferrer noopener">11 million&nbsp;subscribers losing access</a>.
Also Read:<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/09/40670643/netflix-wants-to-keep-you-hooked-by-unleashing-the-power-of-dubbed-reality-shows-uses-south" rel="noreferrer noopener"> Netflix Wants To Keep You Hooked By Unleashing The Power Of Dubbed Reality Shows, Uses South Korea As Proving Ground</a>
South Korean law enforcement agencies&nbsp;have&nbsp;launched an investigation&nbsp;into&nbsp;the encrypted messaging platform&nbsp;Telegram for its alleged involvement in the dissemination of <a target="_blank" href="https://www.benzinga.com/news/24/09/40680081/alleged-deepfake-sex-crimes-south-korea-puts-telegram-under-the-microscope" rel="noreferrer noopener">sexually explicit deepfake content</a>.
Pavel Durov, the founder of&nbsp;Telegram, who is currently&nbsp;under investigation in France, has publicly criticized French authorities for detaining him instead o<a target="_blank" href="https://www.benzinga.com/news/24/09/40743743/telegram-founder-pavel-durov-slams-france-in-first-public-comments-since-detention-still-trying-to-u" rel="noreferrer noopener">f addressing their complaints to his company</a>.
YouTube&nbsp;has taken down the&nbsp;Tenet Media&nbsp;channel following a U.S. <a target="_blank" href="https://www.benzinga.com/news/24/09/40744282/youtube-shuts-down-tenet-media-channel-following-us-indictment-right-wing-influencers-say-victims-of" rel="noreferrer noopener">Department of Justice indictment</a>.
E-Commerce
In a significant move, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is reportedly gearing up to revamp its voice assistant, Alexa, using&nbsp;Anthropic's Claude AI models to replace its own AI. The new version, set for an October release, is designed to <a target="_blank" href="https://www.benzinga.com/news/24/08/40650406/amazon-leverages-anthropics-claude-ai-to-transform-alexa-before-holiday-season-report" rel="noreferrer noopener">answer complex queries more efficiently</a>.
In recent developments, the U.S. Consumer Products Safety Commission (CPSC) has called for an investigation into e-commerce retailers&nbsp;Shein&nbsp;and PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) owned&nbsp;Temu. The demand comes in light of allegations regarding the sale of &#8220;deadly baby <a target="_blank" href="https://www.benzinga.com/24/09/40701030/us-demands-probe-into-shein-and-temu-over-deadly-baby-products" rel="noreferrer noopener">and toddler products&#8221; on these platforms</a>.
Technology
In an effort to bolster supply chain resilience, Taiwan's leading chip manufacturers are set to begin domestic production of neon gas by 2025, in partnership with local steel and gas firms. Apple and NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) key chip suppliers, Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Winbond, and United Microelectronics Corporation <a href="https://www.benzinga.com/news/24/09/40686890/apple-nvidia-key-supplier-tsmc-leads-taiwanese-chip-giants-to-localize-neon-gas-production-by-2025" target="_blank" rel="noreferrer noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) are leading this initiative</a>.
Days after Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO&nbsp;Mark Zuckerberg said that the&nbsp;Joe Biden administration &#8220;pressured&#8221;&nbsp;Facebook to censor certain content on its platforms, the U.S. Department of Justice unveiled a fresh strategy <a target="_blank" href="https://www.benzinga.com/news/24/09/40700150/doj-revamps-social-media-strategy-on-combating-foreign-threats-days-after-meta-ceo-mark-zuckerberg-s" rel="noreferrer noopener">to deal with foreign threats</a>.
In a bold move to penetrate the U.S. point-of-sale (POS) payments market, PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) is integrating its debit card with&nbsp;Apple&#8216;s mobile wallet and <a target="_blank" href="https://www.benzinga.com/fintech/24/09/40731875/paypal-ventures-into-in-person-payments-with-apple-pay-integration-and-cashback-rewards" rel="noreferrer noopener">offering different cashback rewards</a>.
Elon Musk
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;and&nbsp;SpaceX&nbsp;CEO&nbsp;Elon Musk&nbsp;have threatened&nbsp;to seize Brazilian government assets&nbsp;unless property belonging to his companies&nbsp;X, <a target="_blank" href="https://www.benzinga.com/news/24/09/40679667/elon-musk-says-brazilian-government-assets-can-be-seized-after-x-spacex-property-confiscated-hope-lu" rel="noreferrer noopener">formerly&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40679667/elon-musk-says-brazilian-government-assets-can-be-seized-after-x-spacex-property-confiscated-hope-lu" rel="noreferrer noopener">Twitter</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40679667/elon-musk-says-brazilian-government-assets-can-be-seized-after-x-spacex-property-confiscated-hope-lu" rel="noreferrer noopener">&nbsp;and SpaceX, are returned</a>.
Elon Musk's satellite broadband company,&nbsp;Starlink, has decided to comply with a Brazilian&nbsp;court order to block access&nbsp;to social media platform&nbsp;X, formerly&nbsp;Twitter,&nbsp;in Brazil,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/09/40699448/elon-musks-starlink-bows-to-brazils-top-court-blocks-access-to-x-in-the-country-we-continue-to-pursu" rel="noreferrer noopener">reversing its previous stance</a>.
Related: <a target="_blank" href="https://www.benzinga.com/news/24/09/40680467/after-x-ban-elon-musks-starlink-defies-brazilian-court-order-to-block-social-media-platform" rel="noreferrer noopener">After X Ban, Elon Musk&#8217;s Starlink Defies Brazilian Court Order To Block Social Media Platform</a>
Twitter has won an appeal against a&nbsp;California law that mandates&nbsp;social media companies to disclose their policies <a target="_blank" href="https://www.benzinga.com/news/24/09/40722358/elon-musks-x-triumphs-in-appeal-over-california-law-on-content-moderation-policies-congrats-for-defe" rel="noreferrer noopener">against disinformation and hate speech</a>.
A significant number of advertisers plan to reduce their spending on X in 2025. This decision stems from concerns about the platform's <a href="https://www.benzinga.com/news/24/09/40724275/elon-musks-x-faces-26-ad-spend-decline-by-2025-amid-steep-decline-in-brand-safety-survey-reveals" target="_blank" rel="noreferrer noopener">association with contentious content</a>.
Elon Musk announced the beta launch of the X TV app, a new venture of the social media <a href="https://www.benzinga.com/news/24/09/40681098/elon-musks-x-tv-beta-version-now-live-on-android-tv-heres-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">platform </a><a href="https://www.benzinga.com/news/24/09/40681098/elon-musks-x-tv-beta-version-now-live-on-android-tv-heres-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">X</a><a href="https://www.benzinga.com/news/24/09/40681098/elon-musks-x-tv-beta-version-now-live-on-android-tv-heres-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">, formerly </a><a href="https://www.benzinga.com/news/24/09/40681098/elon-musks-x-tv-beta-version-now-live-on-android-tv-heres-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">Twitter</a>.
Artificial Intelligence (AI)
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has managed to&nbsp;avoid a comprehensive U.K. probe&nbsp;into its recruitment<a target="_blank" href="https://www.benzinga.com/news/24/09/40722165/microsoft-avoids-uk-antitrust-investigation-into-acquisition-of-certain-assets-from-inflection-ai" rel="noreferrer noopener"> of staff from startup&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40722165/microsoft-avoids-uk-antitrust-investigation-into-acquisition-of-certain-assets-from-inflection-ai" rel="noreferrer noopener">Inflection AI</a>.
Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)&nbsp;is stepping up its&nbsp;U.S. expansion&nbsp;with&nbsp;a new AI-powered sourcing tool&nbsp;designed&nbsp;to simplify the <a target="_blank" href="https://www.benzinga.com/news/24/09/40744024/alibaba-boosts-us-expansion-with-new-ai-sourcing-tool-despite-festering-tensions-between-beijing-and" rel="noreferrer noopener">sourcing process&nbsp;for American buyers</a>.
OpenAI&nbsp;CEO&nbsp;Sam Altman&nbsp;reportedly plans to target the U.S. for the expansion of the&nbsp;artificial intelligence infrastructure project, which could <a target="_blank" href="https://www.benzinga.com/news/24/09/40700567/openai-ceo-sam-altmans-ai-infrastructure-plan-worth-tens-of-billions-of-dollars-to-include-investors" rel="noreferrer noopener">cost "tens of billions of dollars."</a>
Safe Superintelligence&nbsp;(SSI),&nbsp;co-founded by&nbsp;Ilya Sutskever, has raised $1 billion to develop <a target="_blank" href="https://www.benzinga.com/news/24/09/40722123/openai-co-founder-ilya-sutskevers-ai-startup-raises-1b-from-andreessen-horowitz-sequoia-as-sam-altma" rel="noreferrer noopener">advanced artificial intelligence systems</a>.
Leading online dating platforms such as&nbsp;Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>), which owns&nbsp;Tinder&nbsp;and&nbsp;Hinge,&nbsp;Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>), and&nbsp;Grindr Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRND#NYSE">GRND</a>) are either developing&nbsp;or testing AI tools and&nbsp;chatbot assistants designed to generate conversation starters, build user profiles, <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/09/40670481/struggling-to-connect-on-tinder-grindr-or-bumble-dating-apps-now-have-an-ai-wingman-for-you" rel="noreferrer noopener">and provide feedback on user interactions</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40673093/y-combinators-paul-graham-recalls-when-airbnb-ceo-brian-chesky-found-success-by-imitating-this-steve" rel="noreferrer noopener">Y Combinator&#8217;s Paul Graham Recalls When Airbnb CEO Brian Chesky Found Success By Imitating This Steve Jobs Strategy In Running Apple: Elon Musk Thinks It Is &#8216;Worth Reading&#8217;</a>

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Consumer Tech News (Sep 1-Sep 7): Elon Musk Launches Beta Version Of X TV, Alibaba Launches AI To Help American Buyers & More

United Microelectronics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>, TWSE: 2303)))) ("UMC"), today reported unaudited net sales for the month of August 2024.
Revenues for August 2024
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">Period</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1">2023</td>
<td colspan="1" rowspan="1">Y/Y Change</td>
<td colspan="1" rowspan="1">Y/Y (%)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">August</td>
<td colspan="1" rowspan="1">20,645,494</td>
<td colspan="1" rowspan="1">18,952,011</td>
<td colspan="1" rowspan="1">1,693,483</td>
<td colspan="1" rowspan="1">8.94%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Jan.-Aug.</td>
<td colspan="1" rowspan="1">152,973,760</td>
<td colspan="1" rowspan="1">148,521,784</td>
<td colspan="1" rowspan="1">4,451,976</td>
<td colspan="1" rowspan="1">3.00%</td>
</tr>
</tbody>
</table>
</figure>
 &nbsp;

United Microelectronics Corp Reported Net Sales Growth Of 8.94% YoY In August 2024

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Shares of semiconductor stocks are trading lower amid overall market weakness. A drop in the price of NVIDIA may weigh down the sector.

In an effort to bolster supply chain resilience, Taiwan&#8217;s leading chip manufacturers are set to begin domestic production of neon gas by 2025, in partnership with local steel and gas firms.
What Happened: Apple Inc. and Nvidia Corp. key chip supplier Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Winbond, and United Microelectronics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) are leading this initiative. This move aims to secure a stable supply of neon gas, a key chipmaking material, which was previously disrupted by the Ukraine war, Nikkei Asia <a href="https://asia.nikkei.com/Business/Tech/Semiconductors/Taiwan-top-chipmakers-plan-to-localize-neon-gas-supply-by-2025">reported</a> on Tuesday.
Winbond is partnering with Linde LienHwa, a top industrial gas supplier, and China Steel, the largest local steel maker, with plans to commence local output by 2025. Neon gas, primarily produced by large-scale steel plants, is crucial in the lithography step of chipmaking.
United Micro is considering purchasing locally produced neon gas from Linde LienHwa, while TSMC is actively working with suppliers to mitigate supply chain disruptions.
See Also: <a href="https://www.benzinga.com/news/24/09/40679667/elon-musk-says-brazilian-government-assets-can-be-seized-after-x-spacex-property-confiscated-hope-lu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Brazilian Government Assets Can Be Seized After X, SpaceX Property Confiscated: &#8216;Hope Lula &nbsp;Enjoys Flying Commercial&#8217;</a>
Why It Matters: This initiative to<a href="https://www.benzinga.com/news/22/11/29652820/strong-apple-supplier-tsmc-looks-to-secure-neon-gas-locally-after-learning-lessons-from-putins-war-s"> localize neon gas production</a> is a significant step towards enhancing supply chain reliability for the Taiwanese semiconductor industry. TSMC began looking for local sources of neon gas after&nbsp;Vladimir Putin&#8216;s war in Ukraine&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/22/09/29039315/these-2-high-yielders-are-set-to-benefit-from-a-frozen-winter-as-the-russia-ukraine-war-" target="_blank" rel="noreferrer noopener">caused a major supply crunch</a>.&nbsp;
Furthermore, Taiwan&#8217;s Economy Minister, Kuo Jyh Huei, had previously <a href="https://www.benzinga.com/news/24/09/40673345/trump-misunderstands-taiwans-role-in-chip-industry-says-economy-minister-the-president-has-a-lot-on">highlighted the critical role </a>Taiwan plays in the global semiconductor industry. The move to localize neon gas production further underscores this role and the nation&#8217;s commitment to maintaining a robust and resilient semiconductor supply chain.
Price Action: At the time of writing, TSMC was trading 2.03% lower in the pre-market while UMC was down by 1.14%, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40678873/cathie-wood-congratulates-elon-musk-on-xai-milestone-after-ai-firm-brings-100k-nvidia-gpu-colossus-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood Congratulates Elon Musk On xAI Milestone After AI Firm Brings 100K Nvidia GPU Colossus Cluster Online In Just 122 Days: &#8216;Many Big Announcements Ahead&#8217;</a></li>
</ul>
Photo by Sundry Photography on Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Apple, Nvidia Key Supplier TSMC Leads Taiwanese Chip Giants To Localize Neon Gas Production By 2025

Esteemed investor Mark Mobius has pointed out a potential risk that could disrupt the U.S. markets, given the recent market volatility.
What Happened: Mobius, the founding partner of Mobius Capital Partners, has been closely monitoring the growth of the U.S. M2 money supply. The M2 money supply, which encompasses cash held in certain deposits or other savings mediums, reached a peak of $21.722 trillion in April 2022 but fell to $21.025 trillion in June 2024, a decrease of approximately 3.21%. According to Mobius, this decline is historically significant as it represents the largest drop in over 90 years, CNBC<a href="https://www.cnbc.com/2024/08/20/investor-mark-mobius-names-one-risk-that-could-set-back-us-markets.html"> reported</a> on Monday.
Mobius voiced his concerns that if the M2 money supply continues to fall and fails to keep up with economic growth, there could be a reduction in capital available for discretionary spending. This has been a key driver of the current economic expansion and bull market on Wall Street.
"Look for companies with little or no debt, moderate earnings growth, and high return on capital, and get ready to re-enter the market," Mobius advised.
See Also: <a href="https://www.benzinga.com/news/24/08/40432128/scaramuccis-bold-prediction-trump-will-be-sentenced-to-jail-before-election?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Scaramucci&#8217;s Bold Prediction: Trump Will Be Sentenced To Jail Before Election</a>
Despite the risks, Mobius still sees potential in tech stocks, particularly those in the semiconductor industry. He thinks that companies like TSMC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), United Micro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>), and others will continue to thrive due to increasing global demand and the rise of AI. However, he cautioned that companies with weak balance sheets, low or no earnings growth, and high debt could face significant challenges.
Why It Matters: This warning comes after a period of optimism in the U.S. markets. The S&amp;P 500 and Nasdaq 100 had <a href="https://www.benzinga.com/markets/equities/24/08/40450395/s-p-500-nasdaq-100-extend-8-session-winning-streak-as-wall-street-jitters-go-poof-mondays-key-st">extended their winning streak </a>to eight consecutive sessions, as traders remained optimistic about the U.S. economic outlook and improving financial conditions.
However, Mobius had previously predicted further economic struggles following a stock market crash, attributing it to rising <a href="https://www.benzinga.com/news/24/08/40303485/mark-mobius-predicts-further-economic-struggles-following-stock-market-crash-this-is-a-real-problem">global geopolitical tensions </a>and the upcoming U.S. presidential election. Additionally, concerns have been raised about the government <a href="https://www.benzinga.com/markets/24/08/40200537/robert-kiyosaki-says-the-stock-market-depends-on-how-long-the-people-will-let-the-government-print-t">printing too much money,</a> which could result in inflation.
Price Action: On Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which tracks the S&amp;P 500 closed at $559.61 while Invesco QQQ Trust, Series 1(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) closed at $481.27, according to<a href="https://pro.benzinga.com"> Benzinga Pro.</a>
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/08/40429672/elon-musk-is-the-richest-person-in-the-world-how-much-does-he-pay-employees-at-tesla-spacex-and-x?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is The Richest Person In The World — How Much Does He Pay Employees At Tesla, SpaceX And X?</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

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Veteran Investor Mark Mobius Warns Of Potential Risk To US Markets Amid Recent Volatility: '...Get Ready To Re-enter The Market'

United Microelectronics shares are trading higher after the company reported July net sales growth of 9.61%.

United Microelectronics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>, TWSE: 2303)))) (&quot;UMC&quot;), today reported unaudited net sales for the month of July 2024.
Revenues for July 2024
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
Period
</td>
<td colspan="1" rowspan="1">
2024
</td>
<td colspan="1" rowspan="1">
2023
</td>
<td colspan="1" rowspan="1">
Y/Y Change
</td>
<td colspan="1" rowspan="1">
Y/Y (%)
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
July
</td>
<td colspan="1" rowspan="1">
20,896,877
</td>
<td colspan="1" rowspan="1">
19,063,918
</td>
<td colspan="1" rowspan="1">
1,832,959
</td>
<td colspan="1" rowspan="1">
9.61%
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Jan.-July
</td>
<td colspan="1" rowspan="1">
132,328,266
</td>
<td colspan="1" rowspan="1">
129,569,773
</td>
<td colspan="1" rowspan="1">
2,758,493
</td>
<td colspan="1" rowspan="1">
2.13%
</td>
</tr>
</tbody>
</table>

United Microelectronics Reported July 2024 Net Sales Growth Of 9.61% YoY

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Shares of chip stocks are trading lower amid overall market weakness. Recent earnings from large names in the sector may also be weighing on the sector.

Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) saw its stock price spike almost 12% at last check Wednesday, trading at <a href="https://www.benzinga.com/topic/chip-stocks">$160.68 per shape</a>.
This movement is part of a broader rally in semiconductor, hardware, storage and chip-related stocks, driven by strong quarterly earnings from Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and positive <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40078235/biden-rule-on-semiconductor-exports-to-china-is-huge-positive-for-chip-sector-suppl">developments regarding U.S. export regulations.</a>
Why It's Moving: Shares of Broadcom and other semiconductor companies gained Wednesday, according to<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro.</a> 
AMD, which reported robust second-quarter earnings, displayed a strong performance with revenue of $5.84 billion and earnings per share of 69 cents, exceeding analysts' expectations.
Additionally, the semiconductor sector received a boost from reports of a new Biden administration rule on foreign chip equipment exports to China. This rule is expected to exempt key allies such as Japan, the Netherlands, and South Korea, mitigating potential negative impacts.
What Else: The Biden administration's forthcoming regulation will extend U.S. authority to restrict semiconductor manufacturing equipment exports to China but will exempt shipments from Japan, the Netherlands and South Korea. This news alleviated fears of a broader impact on the global semiconductor supply chain.
In addition to the regulatory news, semiconductor stocks experienced their strongest session since February, with ETFs like the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) and the VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>) surging by 5.0% and 6.1%, respectively. The rally was led by companies such as NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) (up 11.84%), United Microelectronics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) (up 8.95%) and Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) (up 7.59%).
<figure class="wp-block-image size-large is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent073124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1024" height="541" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/31151410/AVGO-1024x541.png" alt="" class="wp-image-468724" style="width:541px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/31151410/AVGO-1024x541.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/31151410/AVGO-300x158.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/31151410/AVGO-768x406.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/31151410/AVGO.png 1405w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Now Read:
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</ul>
Photo Via Shutterstock.

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Broadcom Shares Trade Higher On Heels Of New Biden Semiconductor Rule

United Microelectronics (UMC​​​​​​​) is the world's third-largest dedicated chip foundry, with a 7% market share in 2023 after TSMC and GlobalFoundries. Over the past year, United's share price was up 3.6% as of Wednesday's market close.

Current Report: United Microelectronics Corporation

Morgan Stanley downgraded UMC (UMC) to Equal Weight from Overweight with a price target of NT$52, down from NT$60. The firm sees potential wafer pr...

UMC downgraded to Equal Weight from Overweight at Morgan Stanley

GlobalFoundries, United Microelectronics cut by Morgan Stanley on competition

United Microelectronics Q3 2024 Earnings Preview

United Microelectronics reports Q3 results

United Microelectronics Corporation 2024 Q3 - Results - Earnings Call Presentation

United Microelectronics Corporation (UMC) Q4 2024 Earnings Conference Call Transcript

JPMorgan downgraded UMC (UMC) to Neutral from Overweight with a price target of NT$44, down from NT$62. The cyclical recovery in semis is getting p...

UMC downgraded to Neutral at JPMorgan on margin pressures

JPMorgan analyst Gokul Hariharan downgraded UMC (UMC) to Neutral from Overweight. Published first on TheFly – the ultimate source for real-time, ma...

UMC downgraded to Neutral from Overweight at JPMorgan

There's a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on United Micro (UMC – Research Report) and Netlist (NL...

Analysts Offer Insights on Technology Companies: United Micro (UMC) and Netlist (OtherNLST)

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UMC Reports Sales for April 2024

UMC Reports Sales for May 2024

UMC Launches Most Advanced 22nm eHV Platform to Power Next-Generation Smartphone Displays

UMC Reports Sales for June 2024

Peraso Inc. (NASDAQ: PRSO) Upward Stock Trend Amid Strong Q2 Revenue Projections and Recent Milestones

UMC Reports Second Quarter 2024 Results

UMC Reports Sales for July 2024

UMC Reports Sales for August 2024

UMC Reports Sales for September 2024

UMC Reports Third Quarter 2024 Results

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