Intel swoons on dividend cuts while Nvidia soars on A.I. frenzy
It was also a mixed bag for semiconductor company earnings this week. On Wednesday, Intel (INTC/NASDAQ) cut its dividend by 65% from $0.37 to $0.13, weeks after announcing major cuts in executive compensation. That prompted Morgan Stanley to declare its stock looked better after the cut, and the stock rose a tad on Thursday. But that move was eclipsed by a big move in Nvidia (NVDA/NASDAQ), which soared 14% Thursday, on top of a jump after positive earnings news on Wednesday. Even before that, the stock was up 45% in 2023 over the firm’s strong position in the increasingly manic A.I. sector.
Inflation watch: Shipping containers
If you want a quick way to quantify just how dramatic the post-COVID consumer switch to services and away from goods has been, the cost of shipping containers is down 85% from its pandemic peak, and is now below pre-pandemic levels.
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