Chinese consumers have pulled back their spending, blowing a $9 billion hole in Apple’s recent quarterly revenue. Intel, the big chip maker, cited intensifying “trade and macro concerns” for financial results in January that did not meet expectations. And Samsung, another semiconductor powerhouse, said sales plunged 10 percent in the fourth quarter because of weakening demand for its memory chips from data centers and smartphones. Warnings about a sales slowdown this year have come in recent weeks from big chip suppliers that also include Taiwan Semiconductor Manufacturing Company, Micron Technology and Western Digital. It’s an abrupt reversal, coming on the heels of stellar results in 2018 for the business that gave Silicon Valley its name.

Source: New York Times February 03, 2019 20:03 UTC