The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
Clayton was the opening speaker at the Delivering Alpha conference, presented by CNBC and Institutional Investor.Delivering Alpharead more
Investors are asking how the world's third-largest defense spender could have left itself so vulnerable and what that means for the future.Politicsread more
The presidential campaign is "going to be very tough," the former chief White House strategist.Politicsread more
AT&T is not considering a split with its DirecTV unit at this time, people familiar with the situation tell CNBC.The Faber Reportread more
"The market all of the sudden has broken out into a behavior that seems much more rational in September than it did in August," National Securities' Art Hogan says.Trading Nationread more
The former CEO of Overstock announced that he's dumped all of his equity and blamed both the "deep state" and the government for his exit.Marketsread more
Gelson's, an upscale grocery store chain with 27 locations across Southern California, will sell 12-ounce packages of the Impossible Burger.Food & Beverageread more
The new rules come after recent disclosures by some players about their mental health battles — before and during their NBA careers.Health and Scienceread more
The Candytopia and Toys R Us partnership will open in late October in Chicago and Atlanta. The exhibits will stay open through the 2019 holidays, before moving on to different...Retailread more
A disappointing forecast from a key Apple chipmaking partner has some Wall Street analysts worried about iPhone sales forecasts.
On Thursday Bank of America Merrill Lynch and J.P. Morgan warned their clients that Apple's iPhone sales may come in below expectations.
Taiwan Semiconductor Manufacturing (TSMC) said Thursday that its revenue guidance range for the second quarter is $7.8 billion to $7.9 billion versus the Wall Street estimate of $8.8 billion. The firm blamed "weak demand" in the mobile sector for its forecast.
"Given TSM's guidance, we could see some additional downside to iPhone units," Bank of America Merrill Lynch analyst Wamsi Mohan wrote in a note to clients Thursday. "In our opinion, investors are already expecting a weaker CQ2, but the magnitude could be surprising to some."
In similar fashion, J.P. Morgan said TSMC's forecast is bad news for Apple.
"TSMC's 2Q18 guidance missed consensus expectations … largely due to weakness in high end smartphones (Apple iPhones, in our view)," analyst Gokul Hariharan wrote in note to clients Thursday. "We believe the guidance now bakes in very weak iPhone shipments in 1H as well as a more cautious view on new iPhone build in 2H18."
Analysts have already repeatedly lowered their iPhone forecasts so far this year, and this announcement may spur another round of cuts.
Mohan said TSMC's new forecast may mean Apple iPhone sales for the June quarter will fall as many as 5 million units short of the 42 million to 43 million Wall Street consensus. He estimated a 5 million-unit shortfall could incrementally hurt the company's sales by roughly $3.5 billion.
TMSC is the world's largest semiconductor foundry and manufactures chips for Apple and its component suppliers.
Apple did not respond to a request for comment. The company's stock fell 2.8 percent Thursday.