Julie Morgan
👤 SpeakerAppearances Over Time
Podcast Appearances
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I'm your host, Julie Morgan.
Go out and make it a great day.
Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.
It's good to have you here on this Tuesday, March 24th.
Netgear is on our biggest movers list.
NTGR is up 14% after closing 5.8% higher on Monday.
Shares surged after the Federal Communications Commission added foreign-made Wi-Fi routers to its covered list, effectively banning the import of new models on national security grounds.
The FCC said in a statement that the foreign-made routers introduce a supply chain vulnerability that could disrupt the U.S.
economy, critical infrastructure, and national defense, and pose a severe cybersecurity risk that could be leveraged to immediately and severely disrupt U.S.
critical infrastructure.
The move targets future devices while allowing existing inventory and installed routers to remain in use.
The impact will extend beyond Chinese players such as TP-Link, affecting U.S.-headquartered firms as well.
Companies including Netgear, Eero, and Google Nest design their products domestically but depend heavily on manufacturing bases in Asia.
SK Hynix is acquiring advanced production equipment valued at nearly $8 billion from Dutch company ASML, aiming to meet rising demand for memory chips.
The South Korean chipmaker announced the decision through a regulatory filing.
Reports say the extreme ultraviolet scanners will be delivered by December of 2027 for its next-generation production processes.
The move comes amid SK Hynix's push to expand the production of memory chips, including high-bandwidth memory, on the back of soaring demand from the AI industry.