MAJOR BUY SIGNAL: Move Fast, Washington/Pelosi/Mill...

His system has found stocks that soared 1,174%, 2,123%, and 11,422%. But one investment he just uncovered in Washington D.C. could be his biggest discovery yet. It involves President Biden, Nancy Pelosi, trillions of dollars -- and the biggest economic shift since 1958.

Tower Semiconductor CEO Eyes Recovery, Projects Over 7% Growth Next Quarter

Anusuya Lahiri
May 09, 2024

Tower Semiconductor Ltd (NASDAQ:TSEM) reported a fiscal first-quarter 2024 revenue decline of 8% year-on-year to $327.24 million, beating the analyst consensus estimate of $324.52 million.

The Israel-based contract chipmaker’s adjusted EPS of $0.46 beat the analyst consensus estimate of $0.39.

Gross profit was $72.61 million, down by 24.1% Y/Y. The margin declined 473 bps to 22.2%. Operating profit of $33.99 million declined 62% Y/Y.

It generated $110 million in operating cash flow and held $1.24 billion in cash and equivalents as of March 31, 2024.

Russell Ellwanger, the CEO of Tower, acknowledged the overall market downturn, specifically highlighting significant drops in demand for power management and automotive chips to Reuters. 

He expressed optimism for recovery beyond the first quarter in several sectors, despite the current slowdown in automobile sales and reduced chip purchases by data centers due to overstocking. 

Ellwanger also emphasized the need to increase production capacity amidst global uncertainties that dampen consumer purchasing behavior. 

He confirmed that the ongoing conflict between Israel and Palestinian Hamas militants has not materially impacted Tower’s operations. 

Ellwanger predicts more than 7% sequential growth for the second quarter and significant growth in the latter half of the year.

Outlook: Tower Semiconductor expects second-quarter revenue of $350 million, with an upward or downward range of 5% versus the $334.84 million consensus.

During fiscal fourth-quarter results, the company disclosed consolidating its 6″ Fab 1 activities into its 8″ Fab 2 operations and phasing out certain lower-margin products.

TSEM Price Action: Tower Semiconductor shares traded higher by 6.26% at $36.40 at the last check Thursday. 

Photo via Wikimedia Commons

Continue Reading...

Popular

French prime minister seeks to step out from Macron's shadow in the upcoming early election

LE PECQ, France (AP) — Thrust into sprung by his boss, France’s prime minister hopes to emerge from the campaign not only still holding the job that President Emmanuel Macron gave him less than six months ago but also as more of his own person.

$1000 Invested In This Stock 10 Years Ago Would Be Worth $20,000 Today

This stock has outperformed the market over the past 10 years by 24.13% on an annualized basis producing an average annual return of 35.04%.

Buy This Sub-$5 Play on His Final Masterpiece - Ad

I just issued my latest prediction on how this billionaire is about to shock the world with what I believe will be his final masterpiece. Once he flips the switch... Which could happen as early as mid-2024... I believe it could send this sub-$5 play skyrocketing in the coming months.

8 Large Cap Stocks That Outperformed Nvidia Over The Past Year

Nvidia surged 217.58% over the past year, 173.78% year-to-date. Here are eight large-cap stocks that outperformed it this past year.

Tesla Model 3 Long Range Now Qualifies For Full $7,500 Tax Credit

Tesla Inc (NASDAQ: TSLA) announced the new Model 3 Long Range (LR) now qualifies for the full $7,500 federal tax credit in the

Did You Know You Could Already Have an ESG Score? - Ad

As we speak, the powers that be are building a full-scale social credit system... And soon, it could be used to control the way you live your life. Legendary financial forecaster, Dr. Martin Weiss recorded an urgent message on how to prepare, including the three steps you should consider RIGHT NOW.

Elon Musk Says Donald Trump Calls Him For No Reason: 'I Don't Know Why'

Tesla CEO Elon Musk unveiled details of his interactions with former President Donald Trump during the company's shareholder meeting.

Could Elon Musk's New Device Save Us from A.I. Apocalypse? - Ad

A strange new era for mankind is upon us... And it's all thanks to Elon Musk's latest creation. So he invented this strange new device to protect us against that A.I. threat. See this strange device you could be wearing some day.

From Mac To Monolith: Apple Surpasses Microsoft As World's Largest Company By Market Cap

Apple traded above $216 a share on Wednesday morning, up over 4.5% on the day and 10% since its WWDC event on Monday afternoon.

Are Banks Already Using Your ESG Score Against You? - Ad

As we speak, the powers that be are building a full-scale social credit system ...And soon, it could be used to control the way you live your life. Legendary financial forecaster, Dr. Martin Weiss recorded an urgent message on how to prepare, including the three steps you should consider RIGHT NOW.

AI startup Perplexity wants to upend search business. News outlet Forbes says it's ripping them off

The artificial intelligence startup Perplexity AI has raised tens of millions of dollars from the likes of Jeff Bezos and other prominent tech investors for its mission to rival Google in the business of searching for information.

Your Second Chance to Profit from AI - Ad

If you missed out on Nvidia, don't worry. A 244-year-old pattern is about to trigger a $25.6 trillion AI surge... And send three overlooked stocks soaring 1,000%+

Federal appellate panel sends Michigan pipeline challenge to state court

Michigan Attorney General Dana Nessel's lawsuit seeking to shut down part of a petroleum pipeline that runs beneath the Straits of Mackinac belongs in state court, a federal appellate panel ruled Monday.

Bankruptcy judge approves sale of Express Inc to group led by WHP Global

NEW YORK (AP) — A U.S. bankruptcy judge has approved the sale of the majority of 's operations to a consortium led by brand acquisition and management firm WHP Global — providing a lifeline to the struggling retailer and its hundreds of remaining stores.

Mysterious Gold Leverage Just Announced - Ad

Ex-Goldman Sachs VP reveals a secret of the rich and connected that lets you tap into the upside of a huge amount of real, physical gold for just a few dollars at a time. He says the upside could be near 1,000% in the coming future.

Akio Toyoda, grandson of Toyota founder, wins shareholders' approval to stay in leadership

TOKYO (AP) — Toyota shareholders voted Tuesday , grandson of the Japanese automaker’s founder, as chairman on the board.

AI Alert: Wealth Window Update - Ad

I'm James Altucher, AI expert at Paradigm Press. On June 25, tech giants like Nvidia, Dell, and Alibaba could reveal "AI 2.0." This limited wealth-building window could turn $10k into $1 million with strategies I've perfected over 40 years. Act fast before everyone catches on!

Southwest Airlines CEO says he won't resign. A hedge fund is trying to get him fired

DALLAS (AP) — The CEO of said Wednesday he will not resign in the face of pressure from that wants him fired and that his leadership team will produce its own plan to boost the airline's .

Kim Jong Un's Sister Warns Of 'New Counteraction' Against South Korea Over Loudspeaker Broadcasts And Leaflets

The influential sister of North Korean leader Kim Jong Un, Kim Yo Jong, has issued a stern warning to South Korea regarding the resumption of loudspeaker broadcasts and leaflet distribution.

Man Who Called Nvidia at $1.10 Says Buy This Now... - Ad

In 2004, a man predicted Nvidia's rise. Now, he says a new company, which IPO'd in 2023, could soar like Nvidia. It signed a major deal with Apple for its AI tech in iPhones and iMacs. Could it be the next trillion-dollar company? See why he believes it's among "The Next Magnificent Seven."

Amazon invests $1.4 billion for affordable housing options in regions where it has corporate offices

NEW YORK (AP) — Amazon is adding $1.4 billion to a fund it established three years ago for preserving or building more in regions where the company has major corporate offices, CEO Andy Jassy announced Tuesday.

Out of Control - Ad

If you're an American, you cannot deny... The situation at America's southern border is out of control. But there's another invasion happening at the same time -- and I'd wager the majority of Americans have no idea it's happening all around them. I dug into the information -- and what I've found is startling.

Over 1.2 million rechargeable lights are under recall for fire hazards, following one reported death

NEW YORK (AP) — More than 1.2 million rechargeable lights are under recall in the U.S. and Canada following a report of one consumer death.

Trump's Niece Says Insane To Pardon 'Convicted Criminal Who's Trying To Destroy America': 'Absolutely Terrible Idea'

Donald Trump's niece Mary Trump recently slammed the idea of pardoning the ex-president after he was found guilty in the first of his four criminal trials.

After Conviction, There Could Be More Bad News for Trump - Ad

Former advisor to the CIA, the Pentagon and the White House Jim Rickards just dropped this Trump election bombshell. For the sake of our country...I hope he's wrong. Because if he's right, you need to prepare now.

Nvidia Is Pivoting to Solve Big Tech's $1 Trillion Problem - Ad

Nvidia is the hottest company in the world thanks to its chip business. But here's the thing: Nvidia is making a massive $1 trillion pivot ... To solve AI's biggest problem. But it's not making this move by itself. A new set of companies are partnering with Nvidia in this trillion-dollar venture.

NIO Plans Organizational Changes At Onvo Sub-brand: What's Going On?

NIO reportedly unveils organizational restructuring, including the rebranding of strategic units, under its Onvo sub-brand, aiming for business and organizational advancement.

Amazon's Betting Big on This Unknown AI Company - Ad

Amazon has just made a stunning $144 million investment in one small AI company. Why? Because this under-the-radar firm holds the key to unleashing the full potential of next-gen AI... Its technology is crucial for the most advanced AI chips, including Nvidia's latest breakthrough.

Expert: The Most Important Message You'll See in 2024 - Ad

In short, America is being invaded...The invasion spreading across America is coming from the ports, highways, and railroads. AND it's being invited in by the White House. Many will be blindsided, but if you prepare today, you could come out far ahead.

Walmart offers new perks for workers, from a new bonus plan to opportunities in skilled trade jobs

NEW YORK (AP) — is offering new perks for its hourly U.S. workers, ranging from a new bonus plan to opportunities to move into skilled trade jobs within the company.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service