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Biden admin plans to update export rules targeting advanced semiconductors, restrict access for China and other &#39;adversaries&#39;. Nvidia and AMD may see impact, major ETFs heavily exposed to them.

Biden&#39;s Final Chip Curbs Set To Shake AI Markets: 10 ETFs With High Stakes In Nvidia, AMD

Tidal Trust II YieldMax Target 12 Semiconductor Option Income ETF

On Monday, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) rolled out iOS 18.3.1 and iPadOS 18.3.1 updates.
What Happened: The updates address a vulnerability that could disable USB Restricted Mode on locked devices, said Apple.
The flaw, which required physical access to the device, was reportedly exploited in sophisticated attacks targeting specific individuals.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/01/43220055/apple-airpods-with-cameras-rumors-persist-about-next-gen-features" target="_blank" rel="noreferrer noopener">Apple AirPods With Cameras? Rumors Persist About Next-Gen Features</a>
Apple has acknowledged the issue and confirmed that it was actively used against certain targets. The company has improved state management to resolve the vulnerability.
Apple also released iPadOS 17.7.5 for devices unable to run iPadOS 18, ensuring broader protection.
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.
Why It Matters: The release of iOS 18.3.1 comes at a crucial time as Apple prepares for the upcoming <a href="https://www.benzinga.com/tech/25/01/43221500/ios-18-4-preview-updates-to-siri-more-languages-for-apple-intelligence-and-robot-vacuum-support-everything-we-know-so-far">iOS 18.4 update</a>, expected in April.
This future update is anticipated to bring enhancements such as a more intelligent Siri, expanded language support for Apple Intelligence, and improved app functionalities.
Apple reported $124.3 billion in revenue for the <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">fiscal first quarter</a>, surpassing analyst expectations of $124.13 billion.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

News

AAPL

iOS 18.3.1 Released With Critical Security Fix: Apple Confirms USB Restricted Mode Vulnerability Was Actively Exploited

U.S. stocks experienced a positive trading session, with the Nasdaq Composite rising approximately 1% on Monday to 19,714.27. The S&amp;P 500 also saw gains, increasing by 0.7% to 6,066.44, while the Dow Jones Industrial Average edged up slightly by 0.4% to 44,470.41.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Super Micro Computer, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)
Super Micro Computer&#8217;s shares surged by 17.56% to close at $42.65, with an intraday high of $42.88 and a low of $37.36. The stock&#8217;s 52-week range is between $122.9 and $17.25. The company is in the spotlight as it prepares for a second-quarter business update set for Tuesday, with investors keenly watching for updates on its ongoing <a href="https://www.benzinga.com/news/earnings/25/02/43600652/super-micro-computer-q2-earnings-preview-accounting-updates-nasdaq-deadline-on-watch">accounting issues</a> and potential delisting from Nasdaq.
GameStop Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>)
GameStop&#8217;s stock climbed 9.66% to end the day at $27.12, reaching an intraday high of $27.27 and a low of $25.3. Its 52-week high and low are $64.83 and $9.95, respectively. The stock&#8217;s rise followed a <a href="https://in.benzinga.com/trading-ideas/movers/25/02/43605313/gamestop-stock-is-surging-monday-whats-going-on">social media post</a> by CEO Ryan Cohen featuring Strategy CEO Michael Saylor, sparking speculation about the company&#8217;s potential interest in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
McDonald&#8217;s Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>)
McDonald&#8217;s shares increased by 4.80%, closing at $308.42, with a high of $310.28 and a low of $301.51. The stock&#8217;s 52-week range is $317.9 to $243.53. Despite a slight decline in fourth-quarter sales, the company saw a rise in global comparable sales, which helped boost its&nbsp;<a href="https://www.benzinga.com/25/02/43592025/fast-food-major-mcdonalds-stocks-rise-despite-q4-sales-miss-details">stock performance</a>.
Monday.com Ltd&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>)
Monday.com&#8217;s stock soared by 26.46% to close at $326.58, with an intraday high of $342.64 and a low of $295.47. Its 52-week range is $342.64 to $174.75. The company&#8217;s impressive fourth-quarter earnings, with a 32% revenue growth, and CEO&#8217;s comments on <a href="https://www.benzinga.com/25/02/43596316/mondaycom-q4-earnings-beats-estimates-with-32-revenue-growth-ceo-highlights-ai-as-a-game-changer-for-2025">AI as a game-changer</a>, contributed to the stock&#8217;s significant rise. Revenue for the period came in at $267.98 million.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares fell by 3.01%, closing at $350.73, with a high of $362.7 and a low of $350.51. The stock&#8217;s 52-week high and low are $488.54 and $138.8. The decline followed CEO Elon Musk&#8217;s response to <a href="https://www.benzinga.com/tech/25/02/43585701/tesla-ceo-elon-musk-vp-of-finance-address-allegations-of-tax-fraud-losses-were-high-for-many-years-so-carry-forward">allegations of tax fraud</a>, where he called for tax reform and clarified the company&#8217;s tax practices.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43613058/cathie-wood-says-doge-lead-elon-musks-plan-of-putting-the-treasury-on-blockchain-a-win-win-win-transparency-efficiency-security">Cathie Wood Says DOGE-Lead Elon Musk&#8217;s Plan Of Putting The Treasury On Blockchain A &#8216;Win, Win, Win&#8217; — &#8216;Transparency, Efficiency, Security&#8217;</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Equities

Markets

$BTC

MNDY

SMCI

TSLA

Super Micro Computer, Gamestop, McDonald's, Monday.Com, And Tesla: Why These Stocks Are On Investors' Radars Today

Leading economists criticized former President Donald Trump&#8216;s plan to reimpose 25% tariffs on metal imports, while U.S. steel stocks rallied sharply during Monday&#8217;s trading session amid expectations of <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">reduced foreign competition</a>.
What Happened: Former Treasury Secretary Larry Summers warned the proposed tariffs would lead to &#8220;fewer American jobs, more American inflation, and probably a bigger trade deficit,&#8221; questioning potential national security benefits from tariffing allies. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m sorry that Trump&#39;s threatened steel and aluminum tariffs have now been implemented. This will mean fewer American jobs, more American inflation and because of damage to us exports probably a bigger trade deficit. I do not see any national security gain from tariffing Canada.
&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1889114367645344099?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote>
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Jason Furman, former Chair of the Council of Economic Advisers under former President Barack Obama, called the policy a &#8220;self-inflicted wound&#8221; that would raise input costs for American manufacturers.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Public policy shouldn't aim to help manufacturing. But nor should it aim to hurt manufacturing. And that is exactly what steel and aluminum tariffs do, raising input costs for American manufacturers. Not to mention raising borrowing costs &amp; the dollar. A self inflicted wound.
&mdash; Jason Furman (@jasonfurman) <a href="https://twitter.com/jasonfurman/status/1889115505044177308?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote>
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Steel stocks <a href="https://www.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">responded positively to the announcement</a>, with Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) surging 23%, while Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) and Steel Dynamics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NYSE">STLD</a>) gained 6.52% and 5.75% respectively. United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) advanced 6.63%, and Century Aluminum Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) rose 14.1%.
The tariffs announced by Trump would apply to all countries without exemptions. The policy mirrors his 2018 measures that imposed 25% duties on steel and 10% on aluminum imports, citing <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">national security concerns</a>.
Market analyst Peter Schiff cautioned about broader economic implications: &#8220;Everything that American companies manufacture or build that requires steel or aluminum, such as cars, aircraft, appliances, and houses will cost more.&#8221; 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump imposed 25% tariffs on steel and aluminum imports. That means not only will steel and aluminum cost Americans 25% more, but everything that American companies manufacture or build that requires steel or aluminum, such as cars, aircraft, appliances, &amp; houses will cost more.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1889094246545736007?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/25/02/43605813/oil-prices-energy-stocks-jump-as-gaza-ceasefire-risks-collapse-on-rising-hamas-israel-tensions">Oil Prices, Energy Stocks Jump As Gaza Ceasefire Risks Collapse On Rising Hamas-Israel Tensions</a>
Why It Matters: Benn Steil, director of international economics at the Council on Foreign Relations, noted <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">the disproportionate impact</a> on Sunday, citing that &#8220;Steel-using firms employ over 5 million Americans&#8230; Steel-intensive industries account for over 20% of U.S. manufacturing output.&#8221;
The impact could be particularly significant for U.S.-Canada trade relations. According to U.S. Census Bureau data, Canada exported $11.2 billion in steel and $9.5 billion in aluminum to the U.S. in 2024. Canadian Innovation Minister Francois-Philippe Champagne emphasized the critical role of Canadian metals in <a href="https://in.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">U.S. defense and manufacturing sectors</a>.
The automotive industry, which employs 7 million Americans, could face significant challenges from higher material costs. European steelmakers, including German manufacturer Salzgitter, warned the tariffs could redirect excess global supply toward their markets, potentially destabilizing <a href="https://in.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">international trade dynamics</a>.
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

CENX

STLD

Trump's 25% Tarrifs A 'Self-Inflicted Wound,' Says Economist Amid Warnings Of Fewer American Jobs — Peter Schiff Says You'll Pay More For Cars And Homes

Cathie Wood, the founder of asset management firm Ark Invest, rallied around Elon Musk's idea of putting all U.S. government spending on blockchains for better transparency on Sunday.
What happened: Wood wrote, "Transparency, Efficiency, Security: Win, Win, Win," while reacting to the radical plan f<a href="https://www.benzinga.com/25/02/43425216/elon-musk-supports-putting-treasury-department-operations-on-blockchain-to-fix-irregularities">irst backed</a> by Musk, who is in charge of the Department of Government Efficiency, and later <a href="https://x.com/brian_armstrong/status/1888352903997636897">by</a> Coinbase CEO Brian Armstrong.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Transparency, Efficiency, Security: Win, Win, Win. <a href="https://t.co/W4LEiILCsC">https://t.co/W4LEiILCsC</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1888626962731798532?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
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Notably, Ark Invest was the first public asset manager to gain Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) exposure in 2015 and has <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41349588/cathie-woods-ark-invest-says-ethereum-is-a-big-idea-that-will-transform-the-financial-serv">consistently championed the utility</a> of blockchains, including Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>).
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/02/43584910/man-who-accidentally-lost-his-775-million-bitcoin-stash-expresses-desire-to-buy-the-landfill-site">Man Whose $775 Million Bitcoin Fortune Lies Buried In A Landfill Now Wants To Buy The Trash Heap</a>
Why It Matters: Wood's backing comes in the wake of a polarizing debate over Musk's plans to get access to sensitive government systems.
The Department of Government Efficiency, or DOGE, a panel tasked with cutting wasted federal expenditure, <a href="https://www.benzinga.com/news/25/02/43419885/musks-doge-eyes-treasury-payment-system-sparks-controversy-leading-to-officials-exit">sought access</a> to the Treasury Department&#8217;s payment systems amid Musk&#8217;s allegations of government payment irregularities. However, a federal court <a href="https://in.benzinga.com/news/25/02/43578729/court-halts-musks-doge-squad-from-gaining-access-to-treasury-payment-systems-a-risk-of-irreparable-harm">blocked the move</a>, citing the potential risk of "irreparable harm."&nbsp;
According to a live <a href="https://www.doge-tracker.com/">tracker</a>, DOGE has saved U.S. taxpayers $36.70 billion as of this writing, which is about 1.8% of <a href="https://www.benzinga.com/startups/25/01/43046108/musks-doge-ambitions-shrink-why-2-trillion-budget-cuts-may-be-out-of-reach">Musk&#8217;s optimistic $2 trillion target</a> set during Donald Trump&#8217;s campaign. Note that this is not official data.
Price Action: At the time of writing, Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), the cryptocurrency symbolically linked to the department, was exchanging hands at $0.2576, up 4.01% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Image via Shutterstock
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Cathie Wood Says DOGE-Lead Elon Musk's Plan Of Putting The Treasury On Blockchain A 'Win, Win, Win' —  'Transparency, Efficiency, Security'

OpenAI's AI-powered chatbot ChatGPT&#8217;s rise in web traffic has propelled it past Elon Musk's X and Yahoo, making it the sixth most-visited website globally in January 2025.
What Happened: Last week, Similarweb posted its latest desktop traffic rankings for January 2025.&nbsp;
The latest rankings reveal that Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google continues to dominate with a 29.21% traffic share, followed by YouTube at 20.40%.
Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Facebook holds the third spot with 5.08%, while WhatsApp and Instagram are fourth and fifth, respectively.
See Also:&nbsp;<a href="https://www.benzinga.com/news/legal/25/01/43325503/mark-zuckerbergs-meta-pays-trump-25-million-to-settle-lawsuit-over-facebook-instagram-ban-after-jan-6-riot-a-big-year-for-redefining-our-relationships-with-governments" target="_blank" rel="noreferrer noopener">Mark Zuckerberg&#8217;s Meta Pays Trump $25 Million To Settle Lawsuit Over Facebook, Instagram Ban After Jan. 6 Riot: ‘A Big Year For Redefining Our Relationships With Governments&#8217;</a>
ChatGPT follows closely with a 2.33% traffic share, showing a notable month-over-month increase of 5.91%.
X, formerly Twitter ranks seventh with a 1.92% traffic share, and Yahoo is eighth at 1.88%. Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) and Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) complete the top ten list.
Reacting to the ranking, OpenAI CEO Sam Altman took to X, and said, "Man, still a long way to go to run down Google."&nbsp;&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">man, still a long way to go to run down google &#x1f97a; <a href="https://t.co/MdD3as1lIU">https://t.co/MdD3as1lIU</a>
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1888703820596977684?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
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Similarweb also revealed the top 10 apps in the U.S. (iPhone) in January: DeepSeek &#8211; AI Assistant, ChatGPT, Threads, Block Blast!, TurboTax: File Your Tax Return, T-Life, Google, Google Gemini, Flip: Watch, Create, Shop and Temu: Shop Like a Billionaire.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">They don&#39;t. This is a list of websites. These were the top 10 apps in the US (iPhone) in January: <a href="https://t.co/S2iHN9GWj8">pic.twitter.com/S2iHN9GWj8</a>
&mdash; Similarweb (@Similarweb) <a href="https://twitter.com/Similarweb/status/1888625427721105748?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
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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.
Why It&#8217;s Important: In December 2022, almost a month after ChatGPT had its public release, it was reported Google had <a href="https://www.benzinga.com/news/22/12/30170477/chatgpt-popularity-reportedly-leads-to-google-declaring-code-red-as-sundar-pichai-increases-involvem-1">declared a &#8220;code red,&#8221;</a> seeing it posing a threat to its search dominance.&nbsp;
In October 2024, OpenAI further challenged Google by unveiling <a href="https://www.benzinga.com/news/24/10/41663190/openai-rolls-out-chatgpt-search-google-shares-slide">ChatGPT Search</a>, enabling users to access real-time information, a feature traditionally dominated by search engines.
By December, OpenAI expanded this feature to all users, including those on the free tier, enhancing its accessibility and reach.
Meanwhile, Musk, who co-founded OpenAI and then left in 2018, has reportedly made a <a href="https://in.benzinga.com/25/02/43609104/elon-musk-co-founded-openai-now-hes-bidding-974b-to-take-back-the-company">$97.4-billion bid</a> to regain control of the company.
Photo by jamesonwu1972 on Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/tech/25/01/43221770/apples-ipad-turns-15-today-heres-a-throwback-to-when-steve-jobs-explained-called-it-the-third-category-after-phones-and-notebooks" target="_blank" rel="noreferrer noopener">Apple&#8217;s iPad Turns 15 Today: Here&#8217;s A Throwback To When Steve Jobs Explained Called It The ‘Third Category&#8217; After Phones And Notebooks</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

GOOG

GOOGL

NFLX

RDDT

OpenAI's ChatGPT Surpasses Elon Musk's X To Rank Sixth Most-Visited Website Globally — Sam Altman Says, 'Still A Long Way To Go To Run Down Google'

Nancy Pelosi, the former Speaker of the House, took to X on Monday to express her disapproval of the MAGA Republicans&#8217; &#8220;tax scheme,&#8221; which she claims is designed to plunder Medicaid for the benefit of billionaires.
What Happened: Pelosi said, &#8220;Extreme MAGA Republicans revealed their tax scam to raid Medicaid to give more tax cuts to billionaires. But we can stop them! We&#8217;ve done it before — we saved Social Security in 2006, the Affordable Care Act in 2018 and we&#8217;ll stop them now to save the ACA, Medicare and Medicaid.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Extreme MAGA Republicans revealed their tax scam to raid Medicaid to give more tax cuts to billionaires. But we can stop them! We&#39;ve done it before — we saved Social Security in 2006, the Affordable Care Act in 2018 and we&#39;ll stop them now to save the ACA, Medicare and Medicaid. <a href="https://t.co/J0ejQIxeUB">pic.twitter.com/J0ejQIxeUB</a>
&mdash; Nancy Pelosi (@TeamPelosi) <a href="https://twitter.com/TeamPelosi/status/1889100925673054462?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Pelosi said that Republicans did &#8220;something today in the Congress that is unbearable for people on Medicare and Medicaid.&#8221; The Speaker Emerita referred to cuts made in Congress to Medicaid which she claimed would fuel tax cuts for billionaires. She said that the way to stop these efforts were with &#8220;outside mobilization.&#8221; 
The Trump administration&#8217;s agenda has been stalled in Congress over the weekend as GOP hardliners want the party leaders to make deeper cuts to Medicaid, <a href="https://edition.cnn.com/2025/02/10/politics/gop-cuts-trump-agenda-house-senate/index.html">reported</a> CNN. Ultra-conservatives and swing-district members are increasingly at odds over Medicaid cuts.
Why It Matters: Pelosi had earlier called Medicaid a &#8220;pillar of health, security and justice&#8221; for tens of millions and claimed that Republicans were plotting to end it as it existed in its current form. She vowed to stop them.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Medicaid saves lives as a pillar of health, security and justice for tens of millions of Americans.   While Republicans plot to end Medicaid as we know it, Democrats are fighting back.   And with the American people on our side, we will stop them. <a href="https://t.co/U0OblYzyE3">pic.twitter.com/U0OblYzyE3</a>
&mdash; Nancy Pelosi (@SpeakerPelosi) <a href="https://twitter.com/SpeakerPelosi/status/1887618851728183308?ref_src=twsrc%5Etfw">February 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/general/restaurants/25/02/43612522/doordash-q4-earnings-preview-all-eyes-on-annual-subscriber-figures-order-frequency">DoorDash Q4 Earnings Preview: All Eyes On Annual Subscriber Figures, Order Frequency</a>
Medicaid, a program that serves 79 million low-income or disabled Americans, has been a <a href="https://www.benzinga.com/personal-finance/25/01/43191852/an-existential-fight-ahead-why-trumps-medicaid-cuts-could-leave-millions-struggling-with-healthcare-costs">major target for cuts</a> under the Trump administration. The proposed cuts could mean fewer options and higher healthcare costs for many families. GOP wants to roll back the expansion of Medicaid under the Affordable Care Act (ACA), which added 20 million people to the program over the past 11 years.
Earlier, the White House ordered a temporary freeze on all federal grants and loans, putting $3 trillion in <a href="https://www.benzinga.com/25/01/43290381/trumps-federal-spending-freeze-puts-3-trillion-in-limbo-threatens-industries-like-clean-energy-defense-healthcare">funding under scrutiny</a>. Soon after the Medicaid <a href="https://www.benzinga.com/25/01/43294006/trump-white-house-blames-outage-for-medicaid-website-lockout-we-have-confirmed-no-payments-have-been-affected">website became non-functional</a>, but later the White House blamed the non-functioning website on an &#8220;outage.&#8221; The Trump Administration said that no payments had been affected.
The Elon Musk-led Department of Government Efficiency has meanwhile <a href="https://www.benzinga.com/25/02/43516681/doge-gains-access-to-medicare-and-medicaid-systems-elon-musk-says-this-is-where-the-big-money-fraud-is-happening">secured access</a> to Centers for Medicare and Medicaid Services this month. Musk claimed that &#8220;big money fraud&#8221; was taking place at the CMS. DOGE has the mandate to cut at least $1 trillion in federal spending, while the CMS spent over $1.5 trillion in 2024 and has come under attack in the past for fraudulent and wasteful spending.
Image via Shutterstock
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Nancy Pelosi Says 'Extreme MAGA Republicans' Have Revealed Their 'Tax Scam' To Plunder Medicaid For Giving Tax Cuts To Billionaires

A surprise dinner at Morris Chang's home in 2010 set the stage for one of the most consequential business relationships in the tech industry—one that made Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) the biggest client of Taiwan Semiconductor Manufacturing Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSMC#NYSE">TSMC</a>).
What Happened: <a href="https://www.benzinga.com/tech/25/02/43517209/jensen-huang-once-wrote-a-desperate-letter-to-save-nvidia-but-also-forged-a-partnership-worth-billions-with-tsmc-morris-chang-reveals-the-story">In a podcast</a>, Chang, who is regarded as the founder of Taiwan&#8217;s semiconductor industry recalled how the then Apple COO Jeff Williams arrived at his for an unexpected dinner.
The meeting was arranged by Terry Gou, the founder of Foxconn, who is also the second cousin of Chang's wife Sophie.
Chang had no prior notice of Apple's interest in working with his company. Once at the dinner table, where the group had Chinese food, Williams wasted no time and expressed interest in TSMC manufacturing chips for Apple.
At dinner, Williams mentioned a 40% gross margin for TSMC, and Chang found this low since his company&#8217;s margin was already 45%. However, he chose not to debate pricing at that moment.
See Also:<a href="https://www.benzinga.com/news/management/25/01/43274796/jensen-huang-loses-20b-in-wealth-how-deepseek-hit-nvidia-stock-and-worlds-richest-people" target="_blank" rel="noreferrer noopener">&nbsp;Jensen Huang Loses $20B In Wealth: How DeepSeek Hit Nvidia Stock And World's Richest People</a>
Apple also wanted chips built on a 20-nanometer process, while TSMC had been planning to transition straight from 28nm to 16nm. For Chang, this was an issue. As he later recalled, "A half step is a detour."
Despite his initial reservations, Chang saw an opportunity and took a calculated risk—one that required billions of dollars in investment. TSMC eventually chose to avoid cutting dividends or issuing new stock. Instead, they opted to take on debt.
In February 2011, Apple paused talks with TSMC for two months after Intel approached Tim Cook, asking to be considered as a supplier.
Chang recalled that he reached out to Apple for clarity. In a follow-up meeting, Cook assured him that Intel didn't know how to be a foundry, confirming Apple's commitment to TSMC.
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.
TSMC and Apple also disagreed on yield rates and pricing. However, they ultimately negotiated and resolved the issues. TSMC adjusted its roadmap to produce Apple's 20-nanometer chips, delaying its 16-nanometer development but proving its reliability.
When TSMC launched 16-nanometer chips, Apple followed through on its commitment, making TSMC its primary chip supplier.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="TSMC founder Morris Chang" width="500" height="281" src="https://www.youtube.com/embed/FZItbr4ZJnc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Why It's Important: Fast forward to 2024, and Apple is TSMC's single largest customer. Supply chain data compiled by Bloomberg revealed that Apple accounts for approximately 25.2% of TSMC's annual revenue, far ahead of other tech giants.
While Nvidia Corporation is experiencing explosive demand due to the AI boom, it still trails behind Apple, contributing around 10.1% of TSMC's revenue in 2024. However, this dynamic may shift in 2025.
According to a <a href="https://money.udn.com/money/story/5612/8465417?from=edn_maintab_index">report</a> from Economic Daily News, a Chinese-state-owned news publication, Citi Securities analysts predict that Nvidia could become TSMC's largest customer in 2025, driven by its high-performance AI chips.
Estimates suggest Nvidia could account for 20% of TSMC's revenue in 2025, closing the gap with Apple. However, Bloomberg's previous projections indicate that Apple will still maintain its lead—at least for now.
Photo by wakamatsu.h via Shutterstock
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:
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<li><a href="https://www.benzinga.com/24/12/42260222/how-nvidia-ceos-clever-but-nerdy-pick-up-line-turned-a-homework-proposal-into-marriage-while-building-338-trillion-ai-chip-giant-along-the-way" target="_blank" rel="noreferrer noopener">How Nvidia CEO Jensen Huang's Clever Pick-Up Line Turned A Homework Proposal Into Marriage While Building $3.38 Trillion AI Chip Giant Along The Way</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

TSMC

Apple Is TSMC's Largest Customer; Their Business Love Story Started Over Chinese Food — But Will Their Relationship Change Dramatically in 2025?

NIVFW

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

NIVF

DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) is set to report its fourth-quarter results on Tuesday after the closing bell. Here's a look<a href="https://www.benzinga.com/25/02/43598736/super-bowl-commercials-2025-complete-list-of-super-bowl-lix-ads-and-companies-behind-them"> at what to expect. </a>
What To Watch: Investors will be watching for updates on profitability trends, marketplace GOV growth, and forward guidance from the company. 
DoorDash's annual subscriber disclosure is also expected with this quarterly report which showed subscribers had reached an all-time high of 18 million at the end of 2023. 
Read Next: <a href="https://www.benzinga.com/news/earnings/25/02/43600652/super-micro-computer-q2-earnings-preview-accounting-updates-nasdaq-deadline-on-watch">Super Micro Computer Q2 Earnings Preview: Accounting Updates, Nasdaq Deadline On Watch&nbsp;</a>
JMP analyst Andrew Boone released an earnings preview note on DoorDash last Thursday and expects DoorDash to report better-than-expected results based on growth in restaurant and grocery order frequency, GOV, and new customer initial order rates. 
Boone also noted that DoorDash launched its offsite advertising solution in the fourth quarter which could contribute to revenue growth. DoorDash's ad load remains behind its peers but the company has "substantial runway to expand its advertising business over time," the analyst said.
JMP reiterated its Market Outperform rating and $200 price target for DoorDash stock. 
DoorDash stock has a consensus price target of $179.47 based on the ratings of 33 analysts, with the high being $225 issued by Keybanc in January and the low of $115 issued by Wedbush in August 2024.&nbsp;
According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report quarterly earnings of 33 cents per share on revenue of $2.84 billion. DoorDash beat earnings expectations for the third quarter by more than 72%.&nbsp;
DASH Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, DoorDash shares ended Monday's session up 7.49% at $34.69 at the time of publication Monday.
Read Next:
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</ul>
Image: Shutterstock

Earnings

Previews

Restaurants

DASH

DoorDash Q4 Earnings Preview: All Eyes On Annual Subscriber Figures, Order Frequency

Warren Buffett, one of the greatest investors of all time, has lived in the same Omaha, Nebraska, home since 1958. That's 67 years in one house. Purchased <a href="https://www.benzinga.com/news/24/09/41095962/billionaire-warren-buffett-still-lives-in-an-old-corner-house-he-purchased-for-32k-i-couldnt-imagine">for just $31,500</a>, the property has appreciated to an estimated $1.4 million, an impressive return of about 4,300%. But despite this, Buffett doesn't see homeownership as a guaranteed financial win. In fact, in <a href="https://www.berkshirehathaway.com/letters/2010ltr.pdf">his 2010 letter to shareholders</a>, he made it clear that a house can easily turn into a financial nightmare if buyers aren't careful.
"A house can be a nightmare if the buyer's eyes are bigger than his wallet and if a lender—often protected by a government guarantee—facilitates his fantasy. Our country's social goal should not be to put families into the house of their dreams but rather to put them into a house they can afford," Buffett wrote in 2010, at a time when homes were still relatively affordable following the Great Recession.
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<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a></li>
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Fast forward to 2025, and housing prices are astronomically higher, with interest rates hovering around 7% or more. The cost of buying a home has never been more daunting, yet Buffett's warning from over a decade ago still holds: if you stretch beyond your means, homeownership can be a financial disaster.
<h2 class="wp-block-heading">Buffett Could Have Made More Renting—And He Knows It</h2>
Buffett has never claimed his home was his smartest investment. In fact, he has openly admitted he <a href="https://www.benzinga.com/real-estate/24/06/39333401/warren-buffett-paid-31-500-for-1921-home-despite-the-seller-asking-52-500-its-worth-1-4-million-but">would have made far more money renting</a> and putting that cash into stocks instead. "For the $31,500 I paid for our house, my family and I gained 52 years of terrific memories with more to come," he said in 2010. But financially speaking? He could have done better.
That's a statement you don't hear often, especially in a world where buying a home is viewed as the ultimate "good investment." But Buffett's take is clear: a home is not always the best place to park your money. It provides stability, shelter, and memories, but when it comes to pure wealth-building, stocks historically outperform real estate.
Trending: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
<h2 class="wp-block-heading">Buffett's Take on Mortgages: The "Best Instrument in the World"</h2>
While Buffett remains cautious about overspending on a home, he is a big believer in 30-year fixed mortgages—calling them one of the best financial tools available to homeowners.
In an interview with <a href="https://www.cnbc.com/2012/02/27/cnbc-transcript-part-1-warren-buffett-on-buying-houses-and-the-next-berkshire-ceo.html">CNBC's "Squawk Box</a>" in 2012, Buffett stated: "If you take out a 30-year fixed mortgage and it turns out the interest is too high, next week you can refinance lower. If it turns out it's too low, the other guy is stuck with it for 30 years."
In another appearance on "<a href="https://www.cnbc.com/2012/02/27/warren-buffett-on-cnbc-id-buy-up-a-couple-hundred-thousand-singlefamily-homes-if-i-could.html">Squawk Box</a>" in 2012, he said he'd buy up a "couple thousand" single-family homes if it were practical to do so.&nbsp;
<a href="https://www.cnbc.com/2017/03/06/heres-why-warren-buffett-thinks-you-should-buy-a-home.html">He told CNBC in 2017</a>, "If you know you're going to live in a given area, or think it's very likely, for a considerable period of time and you've got a family, the home is terrific." He also added: "A [30-year mortgage] is an incredibly attractive instrument for homeowners, and you've got a one-way bet."
See Also: <a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a>
Buffett has long emphasized the flexibility of a fixed-rate mortgage, calling it a "one-way negotiation" that benefits the homeowner. His reasoning? If rates drop, you refinance. If rates go up, you keep your low rate. It's a win-win.
<h2 class="wp-block-heading">The Big Takeaway: Buy Smart, Stay Frugal, and Don't Get Trapped</h2>
Buffett's Omaha home is proof that frugality pays off, but his larger point isn't about staying in one house forever—it's about buying responsibly. He's seen too many people overextend on a mortgage, chase their dream home, and end up struggling financially.
Even in today's high-cost housing market, Buffett's advice is simple: <a href="https://www.benzinga.com/money/gbr-savings-by-age">buy only what you can comfortably afford</a>, take advantage of a fixed-rate mortgage, and don't assume homeownership is always the smartest financial move.
After all, if the world's greatest investor says he could have made more money renting, maybe the real "dream home" is financial security, not a bigger mortgage.
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<li><a href="https://www.benzinga.com/money/mark-cubans-advice-for-lotto-winners">Many are surprised by Mark Cuban's advice for lotto winners: Cash or annuity?</a></li>
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Personal Finance

Warren Buffett Has Lived In His $31,500 Home For 67 Years And Calls It One of His Best Investments But Warned: 'A House Can Be A Nightmare'

Ecolab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) has outperformed the market over the past 20 years by 2.39% on an annualized basis producing an average annual return of 10.8%. Currently, Ecolab has a market capitalization of $69.64 billion. 
Buying $1000 In ECL: If an investor had bought $1000 of ECL stock 20 years ago, it would be worth $7,652.15 today based on a price of $245.94 for ECL at the time of writing.
<h3>Ecolab's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739231111_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$1000 Invested In This Stock 20 Years Ago Would Be Worth This Much Today

Needham analyst Scott Berg maintains Monday.Com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) with a Buy and raises the price target from $350 to $400.

Price Target

Analyst Ratings

Needham Maintains Buy on Monday.Com, Raises Price Target to $400

Needham analyst Quinn Bolton maintains ON Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) with a Buy and lowers the price target from $66 to $57.

Needham Maintains Buy on ON Semiconductor, Lowers Price Target to $57

Jones Lang LaSalle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JLL#NYSE">JLL</a>) has outperformed the market over the past 20 years by 1.53% on an annualized basis producing an average annual return of 9.94%. Currently, Jones Lang LaSalle has a market capitalization of $13.26 billion. 
Buying $100 In JLL: If an investor had bought $100 of JLL stock 20 years ago, it would be worth $650.19 today based on a price of $279.45 for JLL at the time of writing.
<h3>Jones Lang LaSalle's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739230218_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Jones Lang LaSalle 20 Years Ago Would Be Worth This Much Today

Marvell Technology, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) stock has surged about 350% in the last five years as the <a target="_blank" href="https://www.benzinga.com/topic/artificial-intelligence" rel="noreferrer noopener">artificial intelligence frenzy</a> has triggered demand for hardware and infrastructure.
The company supplies data infrastructure semiconductor solutions, spanning the data center core to the network edge. It is a fabless semiconductor supplier of high-performance standard and semi-custom products with core strengths in developing and scaling complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/02/43570917/cloudflares-ai-expansion-and-enterprise-growth-set-the-stage-for-big-gains-analysts" rel="noreferrer noopener">Buy Cloudflare Or Sell? Analysts Vary Over Sales Acceleration And Business Momentum</a>
Its solutions empower the data economy and enable the data center, enterprise networking, carrier infrastructure, consumer, and automotive/industrial end markets.
Aswath Damodaran of the Stern School of Business at New York University flagged how computer chips have become part of every consumer good in the last four decades, from <a target="_blank" href="https://aswathdamodaran.substack.com/p/ais-winners-losers-and-wannabes-valuing" rel="noreferrer noopener">appliances to automobiles</a>.
He noted that semiconductor chip customers have also shifted from personal computers to smartphones, with demand emerging from automobile, crypto, and gaming companies in the last decade.
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) became the first <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/19/10/14589580/apple-microsoft-battle-for-position-as-worlds-most-valuable-company-by-market-cap" rel="noreferrer noopener">trillion-dollar company</a> in 2018 as its iPhones gained traction. It is currently worth over $3.4 trillion. Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) hit the trillion-dollar market cap in 2024 and is currently worth ~ $ $3.2 trillion, backed by its AI processors.
Damodaran also said that data processing has emerged as a demand driver. He highlighted the potential upside of the automobile business, backed by automated driving and other enhancements.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) also reached a trillion-dollar valuation, supported by Elon Musk&#8217;s EVs and autonomous driving technology.
Reportedly, a third of the ten global companies worth <a target="_blank" href="https://www.benzinga.com/media/25/01/42762874/broadcom-thrives-with-114-stock-surge-in-ai-boom-while-intel-faces-steep-decline" rel="noreferrer noopener">over $1 trillion</a> came from the chip industry, as 2024 proved immensely beneficial for the U.S. semiconductor sector.
For Marvell, China accounted for 42%- 44% of its revenue between fiscal <a target="_blank" href="https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&amp;ref=318157157&amp;type=HTML&amp;symbol=MRVL&amp;cdn=36dc57774e0f888a3d7612adedcf3e12&amp;companyName=Marvell+Technology+Inc.&amp;formType=10-K&amp;dateFiled=2024-03-13" rel="noreferrer noopener">2022 and 2024</a>, while the U.S. generated 11%- 14%.
The company reported a 7% decline in fiscal 2024 revenue after a 33% growth in fiscal 2023 due to a decrease in sales in the majority of its end markets, including data center, enterprise networking, consumer, and carrier infrastructure, partially offset by growth in the automotive/industrial end market.
The decline coincides with the slowdown in Chinese demand, which impacted the company&#8217;s gross margin, which remained at 42% in fiscal 2024 versus 50% in 2023.
Semiconductor companies have adopted organic growth strategies (e.g., investing in research and development, product innovation, and operational efficiency improvements) or inorganic growth strategies (via acquisitions, mergers, or strategic partnerships) to expand their market share.
R&amp;D consumed 32%- 34% of Marvell&#8217;s revenue between fiscal 2022 and 2024, compared to bigger rival Broadcom Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) 15%- 18%. In absolute terms, Broadcom&#8217;s <a target="_blank" href="https://investors.broadcom.com/financial-information/annual-reports" rel="noreferrer noopener">R&amp;D stood at</a> $9.3 billion in fiscal 2024 on revenue of $51.6 billion versus Marvell&#8217;s R&amp;D at $1.9 billion on revenue of $5.5 billion.
In relative terms, Marvell&#8217;s R&amp;D margin is comparable to that of British chip designer Arm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>). Arm&#8217;s fiscal 2024 <a target="_blank" href="https://investors.arm.com/financials/sec-filings" rel="noreferrer noopener">R&amp;D margin stood</a> at 61% on revenue of $3.23 billion. Still, Marvell posted a gross margin of above 40%, which is testimony to its pricing power or moat.
Marvell stock surged over 57% in the last 12 months, <a target="_blank" href="https://www.spglobal.com/spdji/en/indices/equity/sp-global-semiconductor-index/#overview" rel="noreferrer noopener">topping</a> S&amp;P Global Semiconductor Index&#8217;s 11%. Marvell commands an EV/EBITDA multiple of 262.5x versus Arm&#8217;s 283.1x and Broadcom&#8217;s 47.9x.
Marvell&#8217;s dividend yield is 0.20%, compared to 1.00% for Broadcom or 0.5% for Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>).
Marvell&#8217;s inorganic growth strategies include mergers and acquisitions. On October 5, 2021, Marvell completed the acquisition of Innovium, Inc., a provider of networking solutions for cloud and edge data centers, for $1.0 billion. On April 20, 2021, Marvell completed the acquisition of Inphi, a provider of <a target="_blank" href="https://www.benzinga.com/m-a/20/10/18135863/marvell-confirms-merger-with-chipmaker-inphi-to-create-40b-entity" rel="noreferrer noopener">high-speed data movement</a> enabled by optical interconnects, for $9.9 billion.&nbsp;
Marvell&#8217;s operating cash flow, net of capital expenditures, helped it generate $1.02 billion in free cash flow as of February 3, 2024, compared to $1.07 billion in 2023 and $632 million in 2022.
Excess cash flows above capex help a company pay dividends and/or buyback shares, thereby adding to shareholder value. A company may also use the surplus funds for acquisitions and debt repayment to fuel growth.
Marvell&#8217;s positive AI catalysts for 2025: OpenAI,&nbsp;SoftBank Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>), and&nbsp;Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) launched a&nbsp;<a target="_blank" href="https://www.benzinga.com/25/01/43127416/anthropic-gains-big-with-google-backing-aiming-for-60-billion-valuation-and-surging-ai-revenue" rel="noreferrer noopener">$500 billion joint venture</a>, Stargate, to build AI infrastructure in the U.S.
Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) committed $80 billion for AI-driven data centers. Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google&nbsp;earmarked over $1 billion for its OpenAI rival Anthropic.
BofA Securities Vivek Arya <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43570410/broadcoms-trillion-dollar-run-analyst-expects-asic-to-take-10-15-market-share-backed-by-ai-compute-demand" rel="noreferrer noopener">expressed optimism over</a> AI infrastructure providers like Marvell, which are backed by AI compute/networking demand. He expects Application-Specific Integrated Circuit (ASIC) vendors like Marvell and Broadcom (which hit the trillion dollars market cap in 2024) to bag over a 10%-15% share of the overall accelerator market as Nvidia GPUs dominate with their 80%+ share.
JPMorgan&#8217;s&nbsp;Harlan Sur noted that Marvell is <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42859614/jpmorgan-sees-marvells-ai-revenue-surge-with-2-billion-run-rate-in-networking-by-2025" rel="noreferrer noopener">well-positioned to</a> significantly exceed its previous AI target of $2.5 billion in calendar 2025. This is backed by AI optical/copper networking products and two AI ASIC programs for&nbsp;Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Amazon Web Services, and&nbsp;Google.
Marvell is a holding in 200 US-traded&nbsp;ETFs. Investors can gain exposure to the stock through Vanguard Total Stock Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>)
and Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
MRVL&nbsp;Price Action: Marvell Technology stock closed up by 1.97% to $112.50 on Monday.
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Modine Manufacturing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOD#NYSE">MOD</a>) has outperformed the market over the past 15 years by 4.83% on an annualized basis producing an average annual return of 16.88%. Currently, Modine Manufacturing has a market capitalization of $5.19 billion. 
Buying $100 In MOD: If an investor had bought $100 of MOD stock 15 years ago, it would be worth $1,037.50 today based on a price of $98.81 for MOD at the time of writing.
<h3>Modine Manufacturing's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739228450_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Modine Manufacturing 15 Years Ago Would Be Worth This Much Today

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As Washington ramps up chip export restrictions to unfriendly countries, Nvidia Corp. (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>) are in the midst of a geopolitical power shift that could disrupt the semiconductor <a href="https://www.benzinga.com/topic/semiconductors">industry&#8217;s global landscape.</a>



In a report shared Monday, Bloomberg outlined the Biden administration&#8217;s imminent release of updated export <a href="https://www.benzinga.com/government/regulations/25/01/42897081/nvidia-and-ai-chip-stocks-brace-for-impact-as-biden-administration-considers-new-china-export-ban-report">rules targeting advanced semiconductors. </a>



The new measures, expected to drop Friday, intensify the U.S.&#8217;s strategic efforts to slow China's technological and military advancements by restricting access to high-performance computing chips.



<h3 class="wp-block-heading">New AI Export Framework: Allies And Adversaries</h3>



The regulations will reportedly create a three-tiered structure for semiconductor exports, emphasizing access tiers for key U.S. allies, neutral nations, and restricted countries. 



China is expected to fall under the most severe tier, joining nations such as Russia, Iran, and Venezuela.



This tier-based framework allows certain companies in restricted countries to bypass national limits by agreeing to U.S. security protocols and human rights standards. 



These entities, designated as validated end users, would have higher caps for chip purchases, a move aimed at encouraging safer AI development globally.



The measures expand the sweeping export restrictions initiated in October 2022, which already limited sales of advanced AI chips like Nvidia's Hopper GPUs. 



These earlier rules also prohibited U.S. firms and individuals from supporting Chinese chip development without explicit government approval. 



<h3 class="wp-block-heading">Nvidia And AMD Under Scrutiny</h3>



Nvidia's specialized A800 and H800 chips, developed to comply with prior regulations, could now fall under new restrictions, potentially denting AI giant&#8217;s upcoming revenues. 



According to data firm FactSet, China accounts for approximately 16% of Nvidia&#8217;s revenue, making it the company's second-largest market after the U.S. This marks a decline from 25% prior to the 2022 export restrictions.



In 2023, AMD generated roughly $3.4 billion in revenue from China, including Hong Kong, according to Statista. This represents 15% of the company&#8217;s total revenue of $22.7 billion.



<h3 class="wp-block-heading">Key ETFs Tied To Nvidia And AMD</h3>



Several ETFs heavily exposed to Nvidia and AMD could face ripple effects:



Top ETFs Holding Nvidia (Percentage of Holdings):



<ul>
<li>ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>): 34.96%</li>



<li>Strive U.S. Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NASDAQ">SHOC</a>): 21.10%</li>



<li>YieldMax Target 12 Semiconductor Option (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXY#NASDAQ">SOXY</a>): 20.50%</li>



<li>VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>): 20.21%</li>



<li>VanEck Fabless Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMHX#NASDAQ">SMHX</a>) – 20.11%</li>
</ul>



Top ETFs Holding AMD (Percentage of Holdings):



<ul>
<li>VanEck Video Gaming and Esports ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESPO#NASDAQ">ESPO</a>): 8.01%</li>



<li>iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>): 7.12%</li>



<li>AOT Growth and Innovation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AOTG#NASDAQ">AOTG</a>): 7.07%</li>



<li>Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>): 7.04%</li>



<li>REX FANG &amp; Innovation Equity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEPI#NASDAQ">FEPI</a>): 6.95%</li>
</ul>



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