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IQE PLC is a company engaged in the research, design, development, manufacture and sale of compound semiconductor materials. Its reportable segments based on the markets include Wireless, Photonics, and CMOS++. The Photonics segment manufactures and sells compound semiconductor material for the photonics market, which includes applications that either transmit or sense light, both visible and infrared. The Wireless segment manufactures and sells compound semiconductor material for the wireless market, which includes radiofrequency devices that enable wireless communications. Its geographical segments are the Americas, Europe, Middle East & Africa (EMEA), and the Asia Pacific.

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The company produces &#34;epi-wafers,&#34; a sophisticated material used in various products ranging from laser hair removal systems to facial recognition sensors found in Apple&#39;s iPhones.

AI Boom Fuels Optimistic Outlook For Key Apple Supplier: IQE Sees Strong Order Book In 2024 Despite &#39;Persisting Uncertainties In Global Economy&#39;

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China&#39;s Restrictions On Semiconductor Metals, Biden&#39;s Cloud Computing Ban: Which Companies Are In The Line Of Fire?

IQE PLC

IQE plc (IQEPF) Q4 2023 Earnings Call Transcript

IQE reports FY results

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British chip components manufacturer&nbsp;IQE&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/IQEPF#OTC">IQEPF</a>) has projected&nbsp;its fiscal 2024 results to meet market expectations, driven by a robust order book and the <a href="https://www.benzinga.com/markets/equities/24/03/37814954/ai-boom-or-yolo-bust-nvidia-options-frenzy-ahead-of-gtc-raises-bubble-fears-sparks-2021-meme-sto">burgeoning artificial intelligence industry</a>.



What Happened: On Wednesday, IQE, a supplier to&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), suggested that&nbsp;its fiscal 2024 results would&nbsp;align with market forecasts, buoyed by a growing order book due to the rapid expansion of the AI sector, reported&nbsp;Reuters. 



The company produces &#8220;epi-wafers,&#8221; a sophisticated material used in various products ranging from laser hair removal systems to facial recognition sensors found in Apple&#8217;s iPhones.



IQE has been investing in&nbsp;solutions to facilitate more efficient data transfer in data centers, aiming&nbsp;to capitalize on the AI boom that has gripped the semiconductor industry. The company&#8217;s financial performance has already shown signs of improvement, with a return to&nbsp;profit in the second half&nbsp;of 2023 as the supply glut eased and customer demand surged.



See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38135554/apple-preps-biggest-ipad-overhaul-in-years-after-18-months-pause-with-new-pro-air-models?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Preps Biggest iPad Overhaul In Years After 18 Months Pause With New Pro, Air Models</a>



Despite ongoing global economic uncertainties, IQE expects this positive trend to continue throughout 2024. &#8220;We expect to see this improvement continue through 2024 despite persisting uncertainties in the global economy,&#8221; IQE said.



According to the report, analysts predict the company&#8217;s revenue for the year ending Dec. 31, 2024, to fall within the range of £133.7 million ($169.53 million) to £153.7 million, with&nbsp;an adjusted core profit of&nbsp;£11.1 million to £16.6 million.



Why It Matters: Meanwhile, Apple has been <a href="https://www.benzinga.com/news/24/04/38040467/apple-quietly-unveils-new-ai-model-realm-that-outperforms-openais-gpt-4-despite-being-much-lighter-a">making significant strides</a> in the AI space, including the latest launch of its ReALM AI model, which reportedly outperforms&nbsp;OpenAI&#8216;s GPT-4. 



Previously, it was also reported that the Tim Cook-led company <a href="https://www.benzinga.com/news/24/04/38120343/apple-unveiling-ai-strategy-at-wwdc-2024-will-be-a-watershed-moment-says-wedbushs-dan-ives-stock-cou">will unveil its AI strategy</a> at the Worldwide Developers Conference or WWDC, set to occur in June. This move could significantly impact the tech giant&#8217;s stock, according to Wedbush&#8217;s Dan Ives.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



"Well,&nbsp;I think that's where [Tim]&nbsp;Cook is gonna unveil the&nbsp;AI strategy… the start of&nbsp;the AI app store, and&nbsp;this is gonna be so&nbsp;important as AI now comes&nbsp;to the Apple ecosystem. And&nbsp;I think this is gonna&nbsp;be a watershed moment for&nbsp;Apple," Ives said earlier this month. 



Ives has earlier also said that if the Cupertino, California-based tech giant actually decided to spend money on robots, it would be a &#8220;horror show.&#8221; He went to add that Apple should focus on AI because &#8220;If they went after robots, that would be a black eye moment for Apple."



Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38153866/republican-leader-mitch-mcconnell-pushes-for-legislation-to-compel-chinese-divestment-of-tiktok-an-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Republican Leader Mitch McConnell Pushes For Legislation To Compel Chinese Divestment Of TikTok: &#8216;&#8230; An Enormous Threat To America&#8217;s Children&#8217;</a>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

AI Boom Fuels Optimistic Outlook For Key Apple Supplier: IQE Sees Strong Order Book In 2024 Despite 'Persisting Uncertainties In Global Economy'

The soft war going on between the U.S. and China took new steps this week as both countries announced measures that could affect each other's <a href="https://www.benzinga.com/news/23/07/33106745/us-set-to-restrict-chinas-access-to-cloud-computing-services-from-amazon-microsoft">access to key technological resources</a>.



The measures are the latest escalation in a battle to dominate key sectors within tech, and are likely to have an effect on companies producing semiconductor equipment as well as those providing cloud computing services.



<h3 class="wp-block-heading">China's Metal Export Restrictions: Who Stands To Lose?</h3>



On Monday, China announced <a href="https://www.benzinga.com/markets/asia/23/07/33101403/china-restricts-exports-of-semiconductor-metals-in-latest-front-escalation-of-battle-with-us-over-ai">new restrictions on the export of two metals</a> that are crucial in the manufacturing of semiconductors, 5G base stations and solar panels, among other devices.



While the metals gallium and germanium are not rare, China is the world's largest producer of both and controls 94% of gallium production.



After the export rules were announced, the price of these metals began to rise, and is likely to affect the cost of goods for companies using them in their supply chain.



According to a report by B. Riley Financials, the restrictions could affect Coherent Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>), a U.S. manufacturer of optical devices and semiconductors, as well as Lumentum Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>), a company producing optical technology used in the manufacturing of semiconductors.



Telecommunications equipment Ciena Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) and optical transmission equipment company Infinera Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INFN#NASDAQ">INFN</a>) could also be affected by the measure, which will require special licenses to acquire Chinese-produced gallium and germanium.



According to a Wells Fargo analysis, the Chinese export controls will directly affect U.S.- and Europe-based manufacturers of semiconductor materials using the metals as well as buyers that use them in the processing of compound semiconductors, which are semiconductors that use two or more semiconducting materials. 



These include British semiconductor company IQE plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/IQEPF#OTC">IQEPF</a>) and U.S.-based Wolfspeed Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) as suppliers and Power Integrations Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWI#NASDAQ">POWI</a>), Navitas Semiconductor Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>), Qorvo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) and NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) as buyers.



Skyworks Solutions Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) and Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) might also be affected by rising prices in germanium as these companies use the element in combination with silicon for the manufacturing of RFFE components used in smartphones.



<h3 class="wp-block-heading">Biden's Ban On Cloud Services To China: Who&#8217;s Affected?</h3>



On Wednesday, it became known the Biden Aaministration is looking into ways it can <a href="https://www.benzinga.com/news/23/07/33106745/us-set-to-restrict-chinas-access-to-cloud-computing-services-from-amazon-microsoft">restrict Chinese access to U.S. cloud-service providers</a> like Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>). These companies would need permission from the U.S. government to provide cloud services to companies in China. The Department of Commerce would oversee the execution of the new restrictions, which are expected to be rolled out in the coming weeks.



Amazon's AWS and Microsoft's Azure dominate the U.S. cloud computing market and both have a presence in China. Yet during the first quarter of 2023, 79% of China's cloud market by expenditure went to Chinese companies Alibaba Cloud (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Huawei Cloud, Tencent Cloud (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>), and Baidu AI Cloud (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), according to China Internet Watch.



Chinese cloud companies could gain what remains of the market if Amazon and Microsoft are unable to avoid Biden's restrictions.



In May, <a href="https://www.benzinga.com/markets/asia/23/05/32516655/chinas-revenge-what-a-ban-on-micron-products-could-mean-for-other-us-chipmakers">China passed a ban on products from large U.S. chip manufacturer </a><a href="https://www.benzinga.com/markets/asia/23/05/32516655/chinas-revenge-what-a-ban-on-micron-products-could-mean-for-other-us-chipmakers">Micron Technology</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), which its CEO called a "<a href="https://www.benzinga.com/general/politics/23/06/33084622/s-p-500-climbs-on-cooler-inflation-data-apple-reclaims-3-trillion-market-cap-biden-wants-high-sp">significant headwind</a>.&#8221; 



Biden's CHIPS act, which is seeking to jumpstart the U.S. domestic semiconductor industry, <a href="https://www.benzinga.com/government/22/08/28304086/uss-52b-chip-funding-for-intel-tsmc-samsung-will-cost-them-their-china-ambitions-report">benefits international chip companies that don't expand in China</a>. 



Late last year, the Biden administration imposed <a href="https://www.benzinga.com/government/23/05/32545770/there-is-only-one-china-nvidia-chief-flags-dangers-to-us-chips-act-repercussions-of-us-tech-embargo">an embargo on the most powerful chips</a> from Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) that are crucial for the development of large language models used to train AI systems.



Photo via Shutterstock.

China's Restrictions On Semiconductor Metals, Biden's Cloud Computing Ban: Which Companies Are In The Line Of Fire?

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