reported that between March and May, Foxconn exported $3.2 billion worth of iPhones from India, about 97% sold to the United States, while 50.3% sold to the United States in 2024. In May alone, Foxconn's total iPhone exports from India to the United States were close to $1 billion, the second highest in history, second only to the record-breaking total shipment value of $1.3 billion in March.
Pre-market trading focus: Nvidia Corporation (NASDAQ: NVDA)When asked whether the United States will lift export controls (on chips) after trade negotiations with China in London, Huang Renxun told the media when attending VivaTech conference in Paris: "I don't expect the United States to lift export controls, but if it is really lifted, it will be a huge surprise. I have told all investors and shareholders that our future performance forecasts will not include the Chinese market."
Israel's attack on Iran has exacerbated geopolitical tensions in the Middle East, causing major stock index futures in the U.S. Wall Street stock market to fall on Friday (June 13) and oil prices soar. At the time of press time at 7 p.m., the Standard & Poole 500 futures fell by 55.60 points or 0.92% to 5989.60 points; the Nasdaq 100 futures, dominated by technology stocks, fell by 248.50 points or 1.13% to 21,664.8 points; the heavyweight Dow Jones futures also fell by 425.10 points to 42542.50 points. The strong performance forecasts released by software giant Oracle Corporation and a new peak in stock prices have made market investors optimistic about the AI outlook and offset the impact of market tensions in the Middle East and the decline in Boeing's stock price, which has brought the Standard & Poole 500 to a slightly higher overnight (Thursday). The Standard & Poor 500 index rose 23.02 points overnight to close at 6045.26 points. The Dow Jones Index rose 101.85 points and closed at 42,967.62 points. The Nasdaq 100 index also rose 0.24% or 52.52 points to close at 21,913.32 points. The U.S. stock market was very active overnight trading, with the exchange's total trading volume reaching 23.5 billion shares, more than the average trading volume of 18 billion shares in the past 20 days.In addition to Nvidia being affected by this tariff war, according to Reuters, customs data shows that between March and May this year, almost all Apple iPhones exported by Foxconn from India were sold to the United States. This figure is much higher than the 50% average in 2024. This is obviously the "solution" for Apple to avoid the high tariffs imposed by the United States on China. Half of the iPhones previously produced in India were sold to countries such as the Netherlands, the Czech Republic and the United Kingdom.
Huang Renxun's remarks this time highlight that the United States' restrictions on chips have indeed affected Nvidia's business. Nvidia was once famous for its video game graphics processors, and then made huge profits from the growing AI chips and the market's ardent demand for AI infrastructure.
The H20 artificial intelligence chip is a new chip developed by Nvidia specifically to deal with US export controls, but unexpectedly, it was told in April this year that even this chip now needs a special license to be exported. Nvidia also missed $2.5 billion in additional revenue as a result. (Reuters) As Israel attacked Iran, crude oil prices soared by 13%, and the stock prices of oil companies in the U.S. market also rose. At the time of press time, Occidental Petroleum shares rose 5.23% before the market, Schlumberger shares also rose 4.93%, Chevron rose 2.86%, and Exxon Mobil also rose 2.97%. In addition to oil stocks, U.S. defense contractor stocks generally rose before the market trading Friday night. At the time of press time, Lockheed Martin shares rose 4.41%, Northrop Grumman shares rose 5.10%, and L3Harris Technologies also rose 4.57%. Boeing shares fell 4.8% at the close of overnight, before continuing to fall 7.31% before trading Friday night, at $198.35. Air India Limited, a Boeing 787 passenger plane flew from Ahmedabad, India to London Gatwick Airport and crashed shortly after taking off. After two fatal crashes on the 737 MAX, market investors have become "very sensitive" to Boeing aircraft. The 737 MAX model was also grounded worldwide between March 2019 and November 2020. On Friday, let’s take a look at what Huang Renxun, CEO of chip giant Nvidia, said overnight. The stock fell 1.37% before trading Friday night, and was at $143.01. Pre-market active stocks are in sequence: Nvidia, Plug Power, Tesla, Palantir Technologies and GameStop. At the time of press time, the stock prices of these five active stocks all fell.Driven by the artificial intelligence boom, Nvidia's turnover in the first quarter of 2025 exceeded Wall Street analysts' general expectations, and also increased by 69% over the same period last year to $44.1 billion. But because this export restriction now affects Nvidia's H20 AI chips exported to China, Nvidia also said it missed $2.5 billion in additional revenue as a result..
H20 artificial intelligence chip is a new chip developed by Nvidia specifically to deal with US export controls, but unexpectedly, it was told in April this year that even this chip now needs a special license to be exported.
chip maker Nvidia CEO Huang Renxun said overnight that due to the strict restrictions on chips exported to China, the company will exclude the Chinese market from its turnover and profit forecasts in the future.
Friday (June 13) Focus:In recent years, the United States has increasingly severe restrictions on American chips exported to China and related technologies. They mainly want to prevent China from using the innovative U.S. technology to enhance military and artificial intelligence capabilities.