Welcome to Extreme Investor Network, where we provide you with valuable insights and analysis on the latest trends in the world of investing. Today, we are going to delve into some key developments that took place in the stock market recently.
Intel, a major player in the industry, saw its stock surge after hours, with a jump of up to 8%. The company announced plans to create a separate entity for the foundry side of its business and revealed that it will produce custom artificial intelligence chips for Amazon Web Services. CEO Pat Gelsinger expressed optimism about the company’s new chip, 18A, and highlighted the progress being made in this area.
Moving on to the Apple suppliers, we saw a mixed bag of performances. Apple stock dropped by 2.8% as analysts raised concerns about early iPhone 16 orders. Meanwhile, Arm, a significant component of the new iPhone, also saw a decline of 6%. Cirrus, Qorvo, Skyworks, and Broadcom all experienced drops in their stock prices, reflecting the broader challenges faced by the industry.
In the world of commodities, gold reached a new high before ending the day flat. The VanEck Gold Miners ETF saw a slight decline of 0.5%, despite being up nearly 9% in the last week. First Majestic, Coeur, and New Gold emerged as the top performers, while Anglogold, Westgold, and Ramelius faced downward pressure.
Lastly, coffee prices surged by 10% in the last week and a half due to dry weather conditions in Brazil. Starbucks stock remained steady, while J.M. Smucker, the owner of Folgers, showed strong performance in the past few months.
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