• In new research, we take a deep dive into the semiconductor sector and find that the excitement around AI is hiding a sluggish recovery in consumer, mobility and industrial activity. The sector will remain at the nexus of industrial and national security policies. Elsewhere in technology, we find the recovery in PC and video game supply chains is proving slow, while Alphabet Inc. may be reshoring the Pixel phone to Vietnam.
• Mainland China’s government is promoting a new replacement cycle for consumer goods to reflate the economy, which comes just as exports of home appliances a...