Diamonds and Dogs

9/16/24

One chip stock is higher today. Intel (INTC) is up 6% after the Biden Administration awarded Intel up to $3 billion from the CHIPS and Science Act to develop critical component to a wide range of weapon systems and other national security products in an initiative to re-shore semiconductor manufacturing and advance cutting-edge technology research and development.

Tough day for tech. Apple (AAPL) is down 2% as preorders of 37 million for the iphone16 phones is a disappointment? Suppliers to Apple like Arm Holdings, Tiawan Semi and Broadcom are down 2% or more in sympathy. Micron is down 4% on a downgrade. Nvidia, the AI darling is down 2% as well.

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