Bank of America Corp
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Financials : Banks | Large Cap Value
Company profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

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Apple could face shortage of critical chips for its new iPhones: report

10:43 pm ET November 4, 2020 (MarketWatch)

By Mike Murphy

Apple Inc. may face a shortage of critical power-management chips in its new iPhones and other devices, raising questions about its ability to meet holiday-season demand, Bloomberg News reported ( late Wednesday.

Citing unnamed people with knowledge of the matter, Bloomberg News said it's unclear how seriously Apple (AAPL) will be affected, and noted suppliers are likely to prioritize deliveries to Apple, perhaps to the detriment of other customers.

Sources told Bloomberg that increased global demand for chips, combined with pandemic disruptions, are behind the potential shortfall. The problem is compounded by chip makers stockpiling inventory as they face uncertain times.

The new 5G iPhone 12 devices consume more power, requiring more power-management chips.

Apple reported mixed quarterly earnings last week (, but did not provide a holiday-quarter forecast, leading to some mystery ( over the tech giant's sales expectations.

Apple shares are up 57% year to date, compared to a 2.4% decline by the Dow Jones Industrial Average , of which it is a component.

-Mike Murphy; 415-439-6400;

(END) Dow Jones Newswires

November 04, 2020 22:43 ET (03:43 GMT)

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