WS #11585
Asian and European tech stocks tumbled after Samsung's record profit failed to meet inflated expectations, with semiconductor stocks falling 5-14% on valuation concerns. Microsoft is cutting 4,800 jobs immediately and 3,200 more in Xbox over the next year, selling studios, as part of a major restructuring.
Tech Selloff on Samsung and Valuation Concerns
Asian and European tech stocks tumbled after Samsung's record profit failed to meet inflated expectations, with semiconductor stocks falling 5-14% on valuation concerns.
Microsoft is cutting 4,800 jobs immediately and 3,200 more in Xbox over the next year, selling studios, as part of a major restructuring.