Stocks Set for Rebound after Cisco Cuts Forecast, Buffett Trims Apple Stake, TSMC Jumps on AI Chip Demand
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U.S. stock futures inch higher, pointing to a continued recovery on Wall Street after a decline earlier this week.
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Cisco Systems lowers its annual guidance and plans to cut its global workforce by about 5% amid weak demand.
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Warren Buffett's Berkshire Hathaway slashes its stake in Apple by 10 million shares in Q4 2022, but Apple remains its top holding.
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TSMC shares jump to a record high after analysts at Morgan Stanley raise their price target on client Nvidia, citing AI demand.
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Oil prices little changed as traders assess an unexpectedly large build in U.S. crude inventories and news that Japan entered a technical recession.