WS #11564
Microsoft announces 4,800 job cuts (2.1% of workforce), with Xbox division hit hardest, as AI reshapes operations; bearish for MSFT within MAG7. Dow Jones closes at record 53,055.91, Nasdaq up 1.12%, S&P 500 up 0.72%, led by semiconductor and AI stocks; tech rally stable. Samsung Electronics Q2 operating profit of 89.4 trillion won beats estimate of 87.3 trillion, driven by AI memory demand, bullish for memory stocks (MU, WDC, STX). Broadcom extends chip supply agreement with Apple through 2031, easing investor concerns about Apple in-house chip development; bullish for AVGO and AAPL.
Microsoft cuts 4,800 jobs, Xbox restructuring
Microsoft announces 4,800 job cuts (2.1% of workforce), with Xbox division hit hardest, as AI reshapes operations; bearish for MSFT within MAG7.
Dow Jones closes at record 53,055.91, Nasdaq up 1.12%, S&P 500 up 0.72%, led by semiconductor and AI stocks; tech rally stable.
Samsung Electronics Q2 operating profit of 89.4 trillion won beats estimate of 87.3 trillion, driven by AI memory demand, bullish for memory stocks (MU, WDC, STX).
Broadcom extends chip supply agreement with Apple through 2031, easing investor concerns about Apple in-house chip development; bullish for AVGO and AAPL.