Global Football Equipment Market 2021-2025: Market is Poised to Grow by $1.79 Billion

Oilprice.com
Green Tech Could Create The First Trillionaire
The green tech boom is just getting started, but it’s already looking like it may just wind up crowning the world’s first trillionaire
10h ago
TipRanks
Wells Fargo: These 2 Stocks Could Climb at Least 30%
After January’s sell-off, February’s first week of trading saw the stock market firmly back in bull mode. All 3 major indexes closed off the week at or at touching distance from all-time highs, as the market reacted favorably to the latest job data and the Democrats’ decision to move forward with a $1.9 trillion stimulus package. So, where is the market heading next? Investment firm Wells Fargo sees long-term appreciation ahead for the stock markets. Attempting to peer into the future, Wells Fargo’s senior global equity strategist Scott Wren says, “Playing into our expectation for a meaningful bounce back from the pandemic-induced contraction of last year are factors we have discussed in the past and we believe will continue to be the drivers this year. Positive vaccine news, easy money policies being pursued by the Federal Reserve, and additional anticipated government stimulus have all helped the stock market...” Against this backdrop, Wells Fargo analysts are pounding the table on two stocks, noting that each could surge at least 30% in the year ahead. After running the two through TipRanks’ database, we found out that the rest of the Street is also standing squarely in the bull camp. Guild Holdings (GHLD) The stock market may get more headlines, but real estate is where most Americans hold their wealth. The two markets intersect when real estate companies go public. Guild Holdings is a mortgage company, originating, selling, and servicing home loans in the US residential mortgage sector. The company has a footprint across most of the States, and operates through retail and word-of-mouth channels. The San Diego-based company held its IPO last year, in the latter half of October. The opening was only moderately successful, with the stock holding at or near $15, below the $17 planned. Guild Holdings sold 6.5 million shares, which was below the 8.5 million anticipated. The IPO raised $97.5 million, and the company boasts a current market cap ofreiterate our Overweight rating on GHLD. $972.6 million. Looking ahead, Wells Fargo analyst Donald Fandetti thinks the company is well-positioned to benefit in the current climate. "Despite rising interest rates, we believe management struck a confident posture that their business model should hold up relatively well given their purchase/retail orientation. There is also opportunity to fill in their branch footprint in areas such as the Northeast. The rising 10-year yield has shifted investor sentiment further negative for originators," the analyst opined. In this environment, Fandetti continues to "favor value and purchase mkt exposure," hence his bullish take on the stock. In line with these comments, Fandetti rates GHLD an Overweight (i.e. Buy), and his $22 price target indicates a potential for 36% upside growth in the year ahead. (To watch Fandetti’s track record, click here) Similarly, the rest of the Street is getting onboard. 4 Buys and 1 Hold assigned in the last three months add up to a Strong Buy analyst consensus. The stock is selling for $16.21, and its $19.30 average price target implies a 19% one-year upside. (See GHLD stock analysis on TipRanks) PDC Energy (PDCE) Next up, PDC Energy, is a hydrocarbon producer based in Denver, Colorado. The company has operations in the Wattenberg Field of its home state, as well as the Delaware Basin of the Texas Permian oil formation. PDC produces oil, natural gas, and natural gas liquids through an aggressive horizontal drilling program. PDC saw revenues slip in 1Q20, and slip farther in the second quarter – but the top-line moved in the right direction in Q3. The company brought in $303 million that quarter, and on an adjusted basis showed a profit of $1.04 per share. Looking ahead to the fourth quarter report, due out at the end of February, the company is expected to show 92 cents per share in earnings. In some additional positive metrics, PDC produced a total of 192,000 barrels of oil equivalent per day in the third quarter, for a total of 17.7 million Boe. The company generated net cash from operations of $280 million, and saw a free cash flow of $225 million. During Q3, PDC was able to pay down $215 million worth of debt. Analyst Thomas Hughes, in his note on the stock for Wells Fargo, is impressed by the company’s free cash flow and potential for future production. “FCF generation will drive absolute debt below $1.5bn by the end of 1Q21 per our model, an important figure as shareholder returns (buybacks first) are predicated on this achievement… As debt falls below $1.5bn, the company will likely take a formulaic approach to distributing FCF… While heightened CO regulatory risk exists, PDCE has been successful building a backlog of permits and DUCs for forward development,” Hughes wrote. To this end, Hughes rates the stock an Overweight (i.e. Buy), and his $33 price target shows his confidence in a 30% upside for the next 12 months. (To watch Hughes’ track record, click here) It’s not often that the analysts all agree on a stock, so when it does happen, take note. PDCE’s Strong Buy consensus rating is based on a unanimous 10 Buys. The stock’s $27.90 average price target suggests a 10% and a change from the current share price of $25.35. (See PDCE stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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MoneyWise
Your next stimulus check is just weeks away — will you get the full $1,400?
Congressional leaders are hurrying the new payments along. Will you get one — and when?
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Benzinga
Reddit Pays Ode To GameStop 'Underdogs' In 5-Second Super Bowl Ad
Reddit took out a five-second advertisement during Sunday’s Super Bowl that paid an ode to "underdogs," as highlighted during the GameStop Corp. (NYSE: GME) short squeeze saga. What Happened: ‘Wow, this actually worked,” declared the text-only commercial going. “If you’re reading this, it means our bet paid off.” “One thing we learned from our communities last week is that underdogs can accomplish anything when they come together around a common idea,” the advertisement read — a reference to GameStop short squeezers on r/WallStreetBets. Reddit said it blew up its entire marketing budgeting on seconds of airtime. “Big game spots are expensive, so we couldn’t buy a full one,” said the social news aggregator. Networks were baffled by its decision to run a JPEG as a television advertisement, as per a Reddit tweet. TV networks: Is this your commercial? Us: Yes. TV networks: ...but it's a JPEG. Us: Just run it. — Reddit (@reddit) February 8, 2021 Why It Matters: ViacomCBS Inc (NASDAQ: VIAC)-owned CBS sought $5.5 million for a 30-second in-game spot for the Superbowl, according to Variety. A single five-second ad would thus cost nearly $915,000. The gone in a flash advertisement did catch the attention of r/WallStreetBets where a poster who goes by the nickname AdjustedClimatology posted, “Wow super bowl commercial for us.” Card Retail investors, particularly those on Reddit, have been at the center of attention of the last weeks as they outsmarted Wall Street veterans by pumping up heavily shorted stocks of GameStop, AMC Entertainment Holdings Inc (NYSE: AMC), Nokia Oyj (NYSE: NOK), Blackberry Ltd (NYSE: BB), and others. Price Action: GameSpot shares closed 19.2% higher at $63.77 on Friday and gained 4.22% in the after-hours session. Read Next: 2 Movies On The GameStop Drama Are Already In The Works Photo courtesy: EPIC via Wikimedia See more from BenzingaClick here for options trades from BenzingaElon Musk's Dogecoin Tweets Worry Crypto Community — Situation 'Seriously Damaging'Robinhood Lifts Buy Restrictions on GameStop, AMC As Stocks Tank© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
5h ago
Investor's Business Daily
These Are The Best Robinhood Stocks To Buy Or Watch Now
Buying a stock is easy, but purchasing the right stock without a proven strategy is incredibly hard. Here are the best Robinhood stocks to buy now.
2d ago
Investor's Business Daily
Dow Jones Futures: Congress Fast Tracks Biden Stimulus; Market Rally Warning Signs
Congress fast tracked the Biden stimulus plan, but the market rally is flashing warning signs. Coronavirus vaccinations hit a new high.
7h ago
Bloomberg
Apple Car Talks Aren’t Happening, Say Automakers Hyundai, Kia
(Bloomberg) -- Hyundai Motor Co. and its affiliate Kia Motors Corp. said that they aren’t in talks with Apple Inc. to develop an autonomous vehicle, responding to intense speculation about the potential new product by the maker of the iPhone.Apple paused discussions with Hyundai and Kia weeks ago about building an electric vehicle, people familiar with the matter told Bloomberg late last week. The Cupertino, California-based company has discussed similar plans with other auto manufacturers, the people added, asking not to be identified because the information isn’t public.Read more: Apple Talks With Hyundai, Kia on Electric Car Paused RecentlyThe South Korean carmakers also said in regulatory filings Monday they were in talks with multiple companies about autonomous EVs, but that no decision has been made. Shares of Hyundai, which said discussions with partners were in early stages, fell 6.2% in Seoul, while Kia slumped 15%.Reports surrounding Apple’s possible foray into the global market for automobiles re-emerged recently after going quiet since development first began in 2015. Apple has sought to keep its plans for an EV shrouded in secrecy, given the project’s potential to upend the industry — similar to how its iPhones have shaken up the consumer-electronics market. There are now millions of design-conscious shoppers globally devoted to the tech giant.“Talks with Apple ending aren’t going to dampen Hyundai’s strategy because the automaker already has set up plans on its EV business with the Ioniq brand,” said Lee Jae-il, an analyst at Eugene Investment & Securities Co. in Seoul. “There’s still possibility for Hyundai and Kia to cooperate with other automakers for its EV platform.”Hyundai’s statement is almost identical to one it issued a month ago, after the company muddled its message around the highly anticipated Apple vehicle, first confirming local Korean media reports that it was in discussions with the tech behemoth, then revising its statement twice in a matter of hours. Hyundai finally said it had received requests for potential cooperation from a number of companies.Investors sent shares in Hyundai up almost 20% on Jan. 8 and the weeks since have been peppered with speculation over which automaker Cupertino, California-based Apple may team up with. Earlier this month another report said Kia would be the recipient of a 4 trillion won ($3.6 billion) investment from Apple to make EVs, sending its stock up 10%.A report from Japan’s Nikkei newspaper last week said Apple is in talks with at least six automakers for the development of its EV while Dow Jones said Kia had approached potential partners about a plan to assemble Apple’s electric car in Georgia.Geely, BaiduLike many big tech companies that are working on connected and intelligent mobility solutions, Apple likely needs to partner with an automobile manufacturer. Setting up a car plant can cost billions of dollars and take many years.The past few months have seen a rash of tie-ups in that regard, from China’s Zhejiang Geely Holding Group Co. forging collaboration pacts with Chinese search behemoth Baidu Inc. and Apple’s Taiwanese manufacturing partner Foxconn Technology Group, to Foxconn signing a manufacturing deal with Chinese EV startup Byton Ltd.An Apple car would rival EVs from Tesla Inc. as well as offerings from upstarts like Nio Inc., Li Auto Inc. and Lucid Motors and established players such as Daimler AG and Volkswagen AG.EV sales are booming in Europe, reaching a record high in 2020 and this year is expected to mark yet another period of growth, supported by a string of new models. China is already the world’s largest EV market, with deliveries rising almost 10% last year to 1.11 million units, China Passenger Car Association data showed last month.BloombergNEF forecasts that adoption of EVs will accelerate in the 2030s, and by 2050, around 65% of all passenger-vehicle kilometers traveled will be electric. By 2050, EVs will account for 73% of all new car sales globally and there will be around 800 million passenger EVs on the roads out of a total passenger-vehicle fleet of 1.5 billion.Kia RefreshHyundai has recently developed a new EV-dedicated platform, and plans to build 23 models on it, beginning with the Ioniq 5 in March in Europe and followed by a Kia marque later this year. EVs made on the platform will be able to charge up to 80% capacity in 18 minutes and add as much as 100 kilometers (62 miles) of driving range in just five. They’ll have a top range of 500 kilometers on a single charge.Kia last month rebranded with a new, sleeker logo, scrapping its oval shaped badge and announcing a fresh slogan ‘Movement that inspires’ to replace its older ‘Power to surprise’ mantra.“Kia’s new logo represents the company’s commitment to becoming an icon for change and innovation,” Chief Executive Officer Ho Sung Song said. “The automotive industry is experiencing a period of rapid transformation, and Kia is proactively shaping and adapting.”(Updates with closing share prices in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
3h ago
Investor's Business Daily
Is GM Stock A Buy? Analyst Boosts General Motors Upside By 380%
GM stock is off its high, but just got big validation for its EV and AV progress from Morgan Stanley. Is General Motors stock a buy?
2d ago
Investopedia
6 Social Security Changes for 2021
Every October, the Social Security Administration (SSA) announces its annual changes to the Social Security program for the coming year. Here are the Social Security changes that were announced in Oct. 2020 to take effect on Jan. 1, 2021, according to the SSA's annual fact sheet. Keep them in mind when you update your Social Security information. For 2021, nearly 70 million Social Security recipients are seeing a 1.3% cost-of-living adjustment (COLA) to their monthly benefits. The adjustment helps benefits keep pace with inflation and is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as calculated by the Bureau of Labor Statistics (BLS).
1d ago
Investor's Business Daily
These Are The 5 Best Stocks To Buy And Watch Now
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?
2d ago
Barrons.com
The Biden Stock Market Won’t Be Like the Trump Market. What to Expect.
Savita Subramanian, Bank of America’s widely followed strategist, points to opportunities in financials, energy, industrials, and health care.
16h ago
Bloomberg
Hong Kong Stocks Are About to Lose Biggest Source of Funds
(Bloomberg) -- Hong Kong’s stock traders are about to find out whether the $7.3 trillion market can hold its own without its biggest source of flows.Starting Tuesday, trading links via Hong Kong’s exchange operator allowing mainland traders to buy domestic stocks will halt through Feb. 17 due to the Lunar New Year holiday. The stock connect closure will slam the brakes on record levels of inflows that helped propel Hong Kong’s equities market to its best start to a year since 1985.Investors north of the border turned bargain hunters in late 2020 after valuations in some sectors onshore reached the highest in more than a decade. Mainland investors net bought nearly $48 billion worth of Hong Kong stocks in the first five weeks of this year, which is already more than half of 2020’s total. They continued buying the city’s stocks on Monday, with net purchases at HK$12 billion ($1.5 billion).“We think it might be worthwhile to take some profit ahead of the trading link halt for stocks that are heavily boosted by southbound investors” including Tencent Holdings Ltd., Meituan and China Merchants Bank Co Ltd, said Zhuang Jiapeng, a fund manager at Shenzhen JM Capital Co.Still, the incentive to take money out of the market is low given that people swapping investment ideas during the holidays could spur further gains when the links with Shenzhen and Shanghai reopen. Zhuang said he’s considering moving all of his fund’s assets into Hong Kong at some point later this year, compared with his current 70% exposure.While the shutting of the links for the Lunar New Year is an annual occurrence, traders are taking a closer look given this year’s unprecedented inflows. Tencent, for example, has seen southbound turnover via the links account for about 42% of the stock’s average daily turnover so far this year, according to data compiled by Bloomberg.Investors say longer-term exposure to Hong Kong is appealing given the number of mutual funds piling into the city’s assets. The financial hub is the venue for an increasing number of hot startup listings and tech giants, including short-video platform Kuaishou Technology, which debuted on Friday. Tencent Music Entertainment Group has selected banks to arrange its planned second listing in the city.“Hong Kong stocks will remain attractive to mainlanders while outperformers in A-shares have skyrocketed and valuations are insane,” said Dai Ming, a fund manager at Hengsheng Asset Management Co. “We are still just at the beginning of a long-term buying trend for Hong Kong stocks.”(Updates southbound flows for Monday in paragraph 3)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
2h ago
Barrons.com
Big Pension Buys Up Alibaba, Lilly, and Cisco Stock. Here’s What It Sold.
State Teachers Retirement System of Ohio materially lifted investments in Alibaba, Eli Lilly, and Cisco Systems, and halved holdings in Salesforce.com in the fourth quarter.
22h ago
Financial Times
Big oil’s huge losses raise prospect of mega mergers
When Exxon struck the biggest deal of a $300bn wave of oil mergers during the brutal late-1990s crude price collapse, Mobil chief executive Lou Noto gave a warning to the industry. The easy oil, the easy cost savings, they’re done. Now the finances of the supermajors those deals created are in tatters, just as the rise of clean energy and doubts about long-term oil demand force another existential reckoning — and the prospect of megamergers is on the cards again.
10h ago
Benzinga
Should Microsoft Try To Acquire AMD, Nvidia or Micron In 2021?
Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios. This week we posed the following question to over 1,000 traders and investors about Microsoft Corporation (NASDAQ: MSFT): Over the next year, should Microsoft try to acquire AMD, Nvidia or Micron? Advanced Micro Devices, Inc. (NASDAQ: AMD) Nvidia Corporation (NASDAQ: NVDA) Micron Technology, Inc. (NASDAQ: MU) Buy none Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite. The company is organized into three main segments: productivity and business processes (Microsoft Office, cloud-based Office 365, Exchange, SharePoint, Skype, LinkedIn, Dynamics), intelligence cloud (infrastructure- and platform-as-a-service offerings Azure, Windows Server OS, SQL Server) and personal computing (Windows Client, Xbox, Bing search, display advertising, Surface laptops, tablets and desktops). At time of publication Microsoft’s market cap measures in at $1.83 trillion. For context, this figure exceeds the combined market caps of Nvidia ($336 billion), AMD ($106 billion) and Micron ($90 billion) three times over. See Also: How To Buy Microsoft Stock. Our survey found 32% percent of respondents saying Microsoft should move forward on an M&A with AMD in 2021. AMD designs and produces microprocessors for the computer and consumer electronics industries. The majority of the firm's sales are in CPUs and graphics processing units. Many traders and investors were vocal in their support of AMD, saying it has time and again proven itself with its processors and GPUs in the gaming industry. Respondents said AMD should be seriously considered as a top M&A contender with Microsoft, as the two tech companies have had several prior partnerships, including a recent Xbox Series X|S project which integrates full AMD RDNA 2 architecture. Next, 28% of traders and investors responded that Microsoft should complete an M&A with Nvidia this year. Nvidia is a leading designer of GPUs. The company’s chips are used in a variety of markets, including high-end PCs for gaming, in a GPU-accelerated AI shopping tool for Facebook, Inc. (NASDAQ: FB) and for autonomous driving tech in many Tesla Inc (NASDAQ: TSLA) electric vehicles. Respondents in this group cited Nvidia as an essential developer and leader in future chipmaking that has made a name for itself in the auto and bio-intelligence industries. An Nvidia acquisition would immediately bolster Microsoft’s mobile computing units. Only 6% of traders and investors saw a Microsoft-Micron M&A making sense during 2021. Respondents said Microsoft should look to acquire Micron’s ultra-bandwidth solutions, which are known to deliver maximum bandwidth to feed client’s data-hungry workloads like high-performance computing, artificial intelligence systems and professional visualization workstations, as traders believe these fields will continue to spike in demand amid a transition to long-term remote working conditions. Finally, 30% said Microsoft should not acquire any of the three companies. It’s worth noting that several respondents who were opposed to these M&As believed the Redmond-based tech giant would be better served focusing on research, development of cloud-based tech and a possible M&A in the cloud sector. This survey was conducted by Benzinga in February 2021 and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1000 adults. Source Image: Wikimedia Commons by BenFranske See more from BenzingaClick here for options trades from BenzingaHere's Why Palantir, Pinterest, Ford, Activision Are MovingShould Amazon Try To Acquire Alibaba, Jumia Or eBay In 2021?© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
2d ago
Reuters
Chinese EV startup Byton explores listing via SPAC deal -sources
Chinese electric vehicle (EV) maker Byton, backed by Apple assembler Foxconn, is in talks to go public through a merger with a special-purpose acquisition company (SPAC), people familiar with the matter told Reuters. Byton, whose key shareholders also include China's state-owned automaker FAW Group and EV battery maker CATL, is in talks with potential SPAC companies and investors about the listing and plans to go public as early as this year, two sources, who declined to be named as the talks were private, said. Byton was launched in 2017 by Future Mobility Corp, a company co-founded by former BMW and Nissan Motor executives.
3h ago
Bloomberg
Upstart Rises 824% as Founder Bets on Making Phones in India
(Bloomberg) -- Almost three decades ago, Sunil Vachani borrowed $35,000 so he could start making 14-inch television sets in a rented shed outside New Delhi. It was an unconventional choice given India, though renowned for software and services, had long lagged behind in manufacturing.Today, Vachani’s startup has grown into a sprawling electronics empire. His Dixon Technologies boasts a market value of more than $2.5 billion and the capacity to produce about 50 million smartphones this year. It’s an early indicator of the country’s opportunities -- and challenges -- in building a sophisticated manufacturing sector, a top priority for Prime Minister Narendra Modi.While Vachani, 52, struggled in his early days, his company’s shares surged 824% since a 2017 initial public offering through Friday’s close. Sales and profits have boomed with domestic demand for smartphones, along with India’s ambitious plans to develop its own local industry.“This is only a start,” Vachani said in a telephone interview. “We are bringing about a mindset change that global manufacturing can happen in India.”The founder and his siblings are now in the league of India’s billionaire families. Vachani, who controls a one-third stake worth about $900 million, just bought one of the more extravagant homes in the country -- a $20 million mansion in New Delhi’s tony Lutyens neighborhood.Dixon’s shares rose as much as 3.9% on Monday.India has been plagued for decades with rickety infrastructure, heavy taxes and crushing bureaucracy. The Modi administration has tried to change the dynamic through a range of policies and incentives, with the goal of creating jobs and economic growth. Along with hefty tariffs on products like imported smartphones, the country kicked off a cash incentive program last October to encourage local producers.That has helped spark the construction of new factories from homegrown device makers like Dixon and global contract manufacturers such as Foxconn Technology Group and Wistron Corp. The effort has taken on new urgency with the rising tensions between the U.S. and China, and the coronavirus pandemic, which disrupted supply and underscored the risks of concentrating production in one place for phonemakers like Apple Inc.India still lags well behind China, making about 330 million smartphones annually compared with 1.5 billion in its larger Asian neighbor, according to the Indian Cellular Association. Yet Dixon is an example of how quickly India is changing: It has ramped up production capacity from about 2 million smartphones a month last year to about 4 million units after the government’s incentive program began, with more planned next year.”All global companies are looking for an alternative to the world’s major manufacturing hub, China,” Vachani told Bloomberg Television on Monday.“India is well qualified to be the world’s alternative to the China supply chain,” said P.N. Sudarshan, partner at Deloitte India. “Once component makers move, vibrant manufacturing clusters will form.”Vachani comes from an entrepreneurial family. His father and siblings started a business that produced electronics and appliances under the Weston brand. They made the country’s first color televisions and video recorders -- and operated a string of video game parlors on the side. The Vachanis are Sindhis, a small community in India with a reputation for business acumen.After studying business in London, Sunil opted to go his own way in 1993 rather than join the family business, a decision that quickly led to difficulty. He ran out of working capital and found banks wouldn’t lend to him without collateral. He finally landed bank financing backed by an export contract.So desperate for business was he early on that he agreed to make his 14-inch color televisions for $1.50 in profit apiece. He later made Sega game consoles, Philips video recorders and push-button mobile phones for Bharti Airtel Ltd., the country’s leading mobile operator. Dixon’s fortunes began to improve in the 2000s, when a regional political party gave the company a contract to manufacture televisions for free distribution.Vachani tried persuading the federal government to do more to build a domestic manufacturing sector -- mostly without success. “All I heard from policymakers was that India’s future was in software,” he said.Investors were skeptical early on too. During Dixon’s road show ahead of its IPO, money managers argued that India simply couldn’t compete with China. Vachani eventually raised about 6 billion rupees, or $82 million.Dixon now makes televisions for Xiaomi Corp., washing machines for LG Electronics Inc. and lighting products for Philips. It began producing mobile phones in 2016 for brands like Panasonic Corp. and Samsung Electronics Co.Phones are becoming a substantial growth market. The number of smartphone users in India is projected to rise from 468 million in 2017 to 859 million in 2022. For Dixon, mobile could account for 44% of revenues in the next fiscal year, compared with 12% last year.The government finally turned its attention to domestic manufacturing a few years ago, aimed at slashing a massive electronics import bill and creating much-needed employment. But progress has been slow. Manufacturing accounted for 17.4% gross domestic product in 2020, nearly the same as the 15.3% in 2000, according to McKinsey & Co.Wistron, the first Apple supplier to produce iPhones in India, ran into trouble last year when workers rioted over delays in pay. Apple put the Taiwanese company on probation and said it would hold off on providing new orders.Modi has refined his “Make in India” policy to include financial incentives and simplified policies for infrastructure. The country has declared it wants to create 100 million new manufacturing jobs by 2022. It’s targeting a spike in phone exports from the current $7 billion to $110 billion by 2025, according to the Indian Cellular Association.Dixon is positioning itself to get a major share of this by manufacturing and exporting globally for large brands, Vachani said. Motorola, now owned by China’s Lenovo Group Ltd., has contracted Dixon to make devices for the U.S. market. Finland’s HMD Global, which has a license for the Nokia brand, has signed a similar deal recently. By next year, the company plans to produce about 75 million mobile phones and expand into categories like tablets, laptops and wearables.“This is the golden moment for electronics manufacturing,” said Vachani. “Finally, India is the place to be.”(Updates with share price in sixth paragraph. A previous version of this story corrected Vachani’s title)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
6h ago
MoneyWise
The 3 worst ways people will use their next stimulus check, according to Suze Orman
The personal finance guru says plan now for the new $1,400 payment that's in the works.
2d ago
Investor's Business Daily
DraftKings Stock Jumps On Expanded NFL Partnership, Is It A Buy Right Now?
DraftKings is one of the top IPO stocks to watch, as gambling legalization gains steam. Here is what the fundamentals and technical analysis say about buying DKNG stock now.
15h ago
Yahoo Finance
A typical day for Ark Invest's star stock picker Cathie Wood
Ark Invest's Cathie Wood on her typical day.
2d ago

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Global Football Equipment Market 2021-2025: Market is Poised to Grow by $1.79 Billion

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