According to the company, there are still defects in the 7Nm process, and the R & D Progress of related chips is six months behind the internal target. Currently, the first batch of products is expected to be delivered in late 2022 or early 2023. The above news also reasonably explains why Apple announced in June that it would abandon Intel chips and start to carry arm chips independently developed on macbooks this year.
Based on TSMC technology, amd has been producing and selling a number of 7-nanometer chips for desktop computers and games. TSMC, the worlds largest manufacturer of chips, is expected to contribute about 8% of its annual revenue to the 5-nanometer process this year. Both stocks surged 16.5% and 9.7%, both of which reached new highs.
Technology equity is on the decline this week, with heavy earnings next week
Technology stocks fell weekly for two consecutive weeks, the first time since May 1. The board dragged down the Nasdaq composite index by 1.3% this week, while Apple, Facebook and Google fell by 3.9%, 4.7% and 0.6%, respectively. The three stocks will release their second quarter results next week.
Lerner, chief financial strategist at financial institutions SunTrustAdvisory, wrote in a report that investors concerns about the Internet bubble are intensifying. Although the current situation is not comparable to the frenzy of the market in 90s, the total market capitalization of the five big technology giants FAAMG (Facebook, apple, Amazon, Microsoft, Google) accounts for the S & P 500 Index constituent stocks. (KeithLerner) The total market value has reached 22%, which has a growing impact on the market and brings risks to the market as a whole, although these companies do contribute more cash flow and profits.
we are in the normal state of high volatility. Both the stock market and life are full of great uncertainty. It is difficult to say goodbye to such volatility and uncertainty in the short term, said John Graham, head of ETF strategy at Allianz investment management.
Market focus on a new round of fiscal stimulus
Investors are also focusing on the next round of fiscal stimulus, and the Senate version of the framework has been basically determined, mainly including extending the cycle of additional unemployment benefits, new unemployment benefits or based on 70% salary; the government will issue a new round of bail-out checks for the public; and provide us $105 billion in aid funds for the restart of American schools.
Trump signed four administrative orders on Friday to reduce the price of prescription drugs in the United States. Trump said that the cost of certain prescription drugs purchased by Americans is usually 80% higher than that of Germany and Canada. The executive order aims to make the price of drugs in the United States at least the same as overseas prices.
Gold rose above 1900 US dollars / oz
In terms of commodities, risk aversion was on the rise. Spot gold rose above 1900 US dollars / ounce, a record high, and achieved seven weeks of continuous positive. Mark haefele, chief investment officer of UBS global wealth management, said gold was one of the best performing asset classes with a 24% year-on-year increase. He predicted that geopolitical risks would haunt the year, pushing gold prices above $2000 / oz.
Silver Rose 16.3% in the week, the largest weekly increase since 1987, according to foreign media statistics. Oil prices rose slightly, with us oil up 22 cents to US $41.29/barrel, while cloth oil rose 3 cents to US $43.34/barrel.
European stocks fell across the board. Germanys DAX index fell 2.0% to 12838.1; Britains FTSE 100 index fell 87.6 points, or 1.4%, to 6123.8; Frances CAC40 index fell 1.5% to 4956.4.