It's hard to feel sorry for Silicon Valley tech workers. From high salaries and generous stock options to nap pods and unlimited time off, they're among the most privileged class of employees in the world. Conversely, there's no denying that these pampered staffers engineered a technology revolution that's brought untold economic and social value to the entire planet.

Apple's earnings were an even bigger disaster than expected thanks to a combination of a stronger US dollar, global economic malaise, and more strife at its China factories. That analysts were unable to model for each of these known factors could signal that problems will persist even after supply returns to normal.

The job cuts are expected to affect about 5% of its global workforce.

Third-party retailers in China are offering discounts of as much as 10% on Apple's iPhone 14 Pro amid sluggish demand for smartphones.

The Japanese government is drawing up plans to impose export restrictions on advanced semiconductor-making machines, Kyodo News reported. The move reflects a US-led deal with Japan and the Netherlands to limit the development of China's advanced semiconductor industry.

Also, Tan said he was considering Intel as a potential new foundry partner, as an alternative to its main supplier, Taiwan-based TSMC.

Hesai Technology, a Chinese developer of sensor technologies used in self-driving cars, is planning to file for an initial public offering in the US that could raise about US$150 million, according to people familiar with the matter.

Intel reported a fourth-quarter loss, hurt by a souring market for its chips and growing competition from rivals, as it also issued a gloomy outlook for the current quarter.

According to the agreement, Resonac will supply Infineon with SiC materials for the production of SiC semiconductors, covering a double-digit share of the forecasted demand for the next decade.

The United States and European Union on Friday announced an agreement to speed up and enhance the use of artificial intelligence to improve agriculture, healthcare, emergency response, climate forecasting and the electric grid.

The fight for dominance in the semiconductor sector is reshaping the global economy.

Texas Instruments forecast first-quarter revenue and profit largely below Wall Street targets on Tuesday, as an economic downturn threatens to shackle demand from the chipmaker's so far resilient markets.

Nintendo plans to increase production of its six-year-old Switch console in the coming fiscal year after shipping roughly 21 million Switch consoles in the year ending March, according to people familiar with the matter.

Microsoft is contemplating cutting about 5% of its workforce, or about 11,000 roles.

Taiwan's exports of integrated circuit chips rose in 2022 for a seventh consecutive year, further solidifying the economy's leadership status in a global semiconductor industry that has been roiled by US-China tensions and diversifying supply chains.

Apple is set to sign up Chinese contract manufacturer Luxshare Precision Industry to produce premium iPhone models, the Financial Times reported on Wednesday, citing sources familiar with the matter. Luxshare has been producing small numbers of the iPhone 14 Pro Max at its Kunshan plant, to make up for lost production at Foxconn's Zhengzhou factory last year.

Western Digital has restarted talks with Japan's Kioxia in a deal that could unite two technology storage providers, according to people familiar with the matter.

Absolics, a subsidiary of SKC, broke ground in November on a planned $600 million investment in Covington, Ga., for a new manufacturing facility that will supply advanced materials to the US semiconductor industry.

During the CES 2023 show, electric vehicles and robotic tractors take center stage.

China's abrupt reversal of its Covid Zero policy pushed economic activity - its service sector in particular - to the slowest pace since February 2020, as the virus swept through major cities and prompted people to stay home and businesses to shut.

A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned.

ByteDance, the Chinese parent company of video app TikTok, has laid off hundreds of employees across multiple departments at the end of 2022 as part of a cost-cutting measure, the South China Morning Post reported on Tuesday.

South Korea's LG Group, whose businesses span consumer electronics companies to an electric vehicle battery maker, would make a good partner for Apple as the US tech giant endeavors to make a clean, smart car of its own, an analyst at KB Securities wrote in a note Friday.

China's largest chip maker SMIC is ramping up production of a decade-old chip technology, key to many industries' supply chains, setting off alarm bells in the United States and prompting some lawmakers to try to stop them.

Sony Group is considering building a new factory to make smartphone image sensors in the Kumamoto prefecture of Japan and sourcing chips from TSMC's planned chip plant in the area.

According to a single report from the Kommersant, the Chinese government has decided to stop the supply of locally manufactured Loongson chips to Russia.

Chinese tech giant Alibaba Group cannot buy some of the most advanced chip designs after the SoftBank-owned British chip tech firm Arm determined that US and Britain would not approve licenses to export technology to China, the Financial Times reported on Wednesday.

China filed a dispute with the World Trade Organization trying to overturn US-imposed export controls, which aim to limit the Asian nation's ability to develop a domestic semiconductor industry and equip its military.

IBM and Rapidus, a newly formed chip maker backed by the Japanese government, on Tuesday announced a partnership that aims to manufacture the world's most advanced chips in Japan by the second half of the decade.

Microsoft is to take a 4% equity stake in London Stock Exchange Group as part of a 10-year commercial deal to migrate the exchange operator's data platform into the cloud, the British company said on Monday.

Global economic turbulence has hit technology companies this year, leading to slowing revenue growth and widespread layoffs, even as some segments of enterprise spending on IT seem to be holding steady.

The Biden administration has banned approvals of new telecommunications equipment from China's Huawei Technologies and ZTE because they pose "an unacceptable risk" to US national security.

Hikvision, a leading Chinese surveillance company, has denied suggestions that it poses a threat to Britain's national security after the UK government banned the use of its camera systems at "sensitive" sites.

In a recent interview with the Barron's Tech newsletter, the Tufts history professor argued that American policy makers are still underestimating the significant risks of a possible disastrous outcome over Taiwan.

Chinese authorities are recruiting workers from villages and moving them to Foxconn's iPhone assembly lines after the Apple partner suffered a mass exodus.

Including Hong Kong and Macao, China had 59 papers accepted by the ISSCC.

Samsung Electronics said the global technology industry is in search of alternative sources for advanced semiconductors given rising political risks.

Amazon.com is planning to lay off around 10,000 employees in corporate and technology roles beginning this week, a person familiar with the matter said on Monday, in what would amount to its biggest such reduction to date.

Embattled cryptocurrency exchange FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users.

The growth is expected to temper in 2023 due to challenging macroeconomic conditions but is forecast to rebound in the years that follow on strong demand for semiconductors used in data center, automotive and industrial applications.