Hey Snackers,
The newly christened hottest pepper in the world, Pepper X, is not so much a chili ingredient as it is a gut buster. It averages about 2.69M Scoville heat units, making bear spray and its 2.2M look like Flaminâ Hot Cheetos.
Stocks ended mostly flat after strong economic reports gave investors reason to expect rates to stay higher for longer. September retail sales smashed forecasts, led by sales at auto dealerships and gas stations.
Biden bars China from advanced Nvidia chips as the US closes up policy loopholes
Salty tech battle⊠Chinaâs chip supply is getting crushed like a bag of Layâs stuffed in a backpack. On Tuesday the Biden admin announced new restrictions intended to restrict Chinaâs access to American-made semiconductors that could be used in military tech. The US govât says the expanded policy isnât meant to hurt China economically, and most chips that run smartphones, laptops, and other consumer tech will be unaffected.
Chip dip: Shares of US chipmakers including Nvidia, AMD, and Intel fell on the news.
Still hot: Nvidia said it didnât expect the rules to have âa near-term meaningful impactâ on its financials.
Workinâ around workarounds⊠The rules are meant to spackle cracks left by previous chip-export curbs. (Recall: President Biden introâd sweeping restrictions on the Chinese semiconductor industry last year.) To prevent China from using other countries as US tech straw buyers, companies now have to get special licenses to export advanced chips to dozens of countries. Plus, some Nvidia-made chips allowed under the previous rules are now off limits to China. As are âchipletsâ â the tiny puzzle-like pieces that can be combined for more power.
Chip-petitors: The fresh measures also limit US shipments to Biren and Moore Threads, both Chinese semiconductor startups founded by ex-Nvidia employees.
Crackinâ the whip could lead to whiplash⊠Measures intended to affect Chinaâs chip industry could come back to bite US biz. Five years ago, China was the leading importer of American semiconductors. Now, as the US continues to cut back on trade with China, the USâs leading semiconductor trade group said thereâs a risk of Uncle Samâs policy doing more harm to the industry than it does good for national security.
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Mode saw 150x revenue growth from 2019 to 2022, a leap that has made them one of Americaâs fastest growing companies. Mode is on a mission to disrupt the industry with "EarnPhone," a budget smartphone thatâs helped consumers earn & save $150M+ for activities like listening to music, playing games, and ... even charging their devices?!
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NBA ticket sales soar as international fans make a fast break for US sports
Let the games begin⊠The NBA is winning big with fans abroad. StubHub said that as of a week before the season starts, ticket sales are 60% higher than this time last year. One factor: StubHub says this seasonâs expected to draw more than 2X the number of international fans â from 92 different countries â as last season did.
Viral roster: International stars like the Nuggetsâ Nikola JokiÄ and the Bucksâ Giannis Antetokounmpo have helped spotlight the sport outside the US.
All-star ratings: Last yearâs NBA playoffs were the most watched in half a decade.
Stateside sports boom⊠American leagues are battling for a shot at becoming the MVP of global entertainment. The NFL is set to showcase three games in London and two in Germany this season, including a matchup between the Chiefs and the Dolphins. (Theyâre hot tickets: that Chiefs-Dolphins game sold out in 15 minutes.) Meanwhile, Major League Soccerâs Inter Miami is expected to rake in a record $200M in revenue next year after Argentine icon Lionel Messi joined the team in July.
International fans can lead to local wins... As live sports find new audiences through screens, not all fans are content with watching from home. Now theyâre hoppinâ on flights, uniting in the stands, and supercharging live events. And itâs not just the major leagues that win when fans cross borders: T. Swiftâs blockbuster âErasâ tour, which had some fans traveling halfway around the world, was expected to generate about $5B in the US alone (higher than the GDP of 50 countries).
What else weâre Snackinâ
Sour: Appleâs iPhone 15 is off to a slow start in China, analysts said. Estimates put Chinese iPhone launch sales at their lowest levels since 2018 as rivals like Huawei gain market share.
Disc: Best Buy said itâd bail on DVDs at the end of the holiday szn, following Netflixâs move away from red envelopes. Streamingâs rise has seen US physical-media sales shrink (28% in the first half of this year).
RefundTX: FTX customers could get up to 90% of the funds recovered under a proposed bankruptcy plan. Investigators said nearly $9B in customer funds were missing when the crypto exchange first went under.
Cruisinâ: To appeal to solo travelers, Norwegian is introducing 1K solo rooms while Virgin Voyages offers a singles meetup on each cruise. 25% of US travelers are now considering a solo trip, up from 16% last year.
Oops: Bitcoinâs price briefly spiked after an incorrect report said the SEC had approved the first US spot bitcoin ETF. Some crypto traders think it could draw renewed interest to the industry.
Wednesday
Earnings expected from Alcoa, Ally Financial, Citizens Bank, Equifax, Morgan Stanley, Procter & Gamble, and Tesla
Authors of this Snacks own bitcoin and shares of: Apple and Norwegian
*Please read the offering circular and related risks at invest.modemobile.com. This is a paid advertisement for Mode Mobileâs Regulation CF Offering.