Good Monday morning. (Was this email forwarded to you? Sign up here .) A ‘chip dip’ threatens Big Tech’s clout From Apple to Nvidia, tech companies say that business is slowing. What’s happening? Big tech companies are reporting lackluster results. Weak Chinese consumer demand blew a $9 billion hole in Apple’s latest quarterly sales. Nvidia warned last month that its revenue would come in 20 percent below expectations. Intel’s January financials didn’t meet forecasts. And Samsung’s sales plunged 10 percent in the fourth quarter. Behind the trend: semiconductors. “China, smartphones, Bitcoin and cloud computing have been among the major drivers of the long tech boom, which in turn has powered the global economy for the last decade. The ingredient common to all of these sectors is computer chips, which form the brains of devices and whose ubiquity means they provide early signals about changes in supply and demand,” write David Streitfeld and Don Clark of the NYT. With chip manufacturers predicting slumping sales for 2019, tech more generally could be in line for a slowdown. Sound familiar? “The notion that a chip dip could lead to a general downturn evokes memories of 2000, when one day tech had an unlimited… Read full this story
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