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  • Writer's pictureBy The Financial District

Chip Glut Batters Intel, Coca-Cola

Optimism about AI boosting demand for semiconductors won’t be enough to offset the challenges from an oversupply of chips and a murky economic backdrop when companies such as Texas Instruments, Intel, and NXP Semiconductors report earnings next week, Gabriel Sanchez, Redd Brown, and Ignacio Gonzalez reported for Bloomberg.


Photo Insert: Companies like Coca-Cola and McDonald’s are set to report slower growth, reflecting global economic conditions.



TSMC, the main chipmaker for Apple and Nvidia, projected a 10% drop in annual sales when it reported earnings on Friday in Asia, triggering share-price declines across the sector.


There may still be bright spots in the industry, though, such as NXP’s microcontrollers — a type of chip for which there’s a shortage at the moment.



Meanwhile, Coca-Cola and McDonald’s are set to report slower growth, reflecting global economic conditions; the sluggish economy is also weighing on oil prices, setting Exxon and Chevron on course for their first quarterly earnings declines in more than two years.


AI, another dominant market theme, is likely to be discussed by Microsoft and Alphabet in their earnings.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

In addition to contending with Microsoft’s AI-powered Bing, Alphabet’s Google search engine may soon face competition from Apple, which is creating its own large-language model.





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