WS #11526
Microsoft cuts 4,800 jobs (2.1% of workforce), with Xbox bearing the brunt, citing AI-driven changes and a 'reset' of the gaming division. Broadcom and Apple extend their chip supply deal through 2031, now including AI components, signaling long-term partnership and revenue visibility. Goldman Sachs raises AMD price target from $450 to $640 and Teradyne from $350 to $465, maintaining Buy ratings, indicating strong conviction in semiconductor demand.
Microsoft layoffs and Xbox restructuring
Microsoft cuts 4,800 jobs (2.1% of workforce), with Xbox bearing the brunt, citing AI-driven changes and a 'reset' of the gaming division.
Broadcom and Apple extend their chip supply deal through 2031, now including AI components, signaling long-term partnership and revenue visibility.
Goldman Sachs raises AMD price target from $450 to $640 and Teradyne from $350 to $465, maintaining Buy ratings, indicating strong conviction in semiconductor demand.