Apple said on Monday it will ask the U.S. Supreme Court to hear its challenge to a judge's order in an antitrust case brought by "Fortnite" maker Epic Games that could force the iPhone maker to change payment practices in its App Store.
U.S.-China tensions over semiconductors began with the Trump administration's trade war and have ratcheted up under President Joe Biden's leadership as Washington looks to undercut Beijing's efforts to build its high-tech industry.
A government-led buyout signals more uncertainty ahead for a chip industry grappling with oversupply and geopolitics. The state-backed Japan Investment Corp will take over JSR , which makes light-sensitive chemicals vital to manufacturing semiconductors, among other things. It will help Tokyo bolster its technology supply chains as the country looks to capitalise on jitters around Taiwan, home to many major chipmakers and suppliers.
Forecasts for second-quarter U.S. earnings still look gloomy after a much-better-than-feared first quarter season as the likelihood of further interest rate hikes this year creates more potential risks for companies.