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July 22 - Advanced Micro Devices (SMCI.O) expects fourth-quarter revenue to be near the bottom of its guidance range of $11 billion to $12.5 billion. Gross margin for the fourth quarter is projected to be 15%-17%, significantly higher than the previous guidance of 8.2% to 8.4%. The companys order backlog reached a record high at the end of the fiscal year, with over $60 billion in new orders pending delivery this quarter. SMCI shares rose over 20% in after-hours trading.The API crude oil inventory data for the week ending July 17 will be released in ten minutes.Faraday Future (FFIE.O) will implement a 150-for-1 stock consolidation before the market opens on July 24, 2026.On July 22, Iranian President Pezechzian emphasized on the 21st that Iran must maintain internal unity and cohesion and should not unjustly belittle the results of the negotiations. Speaking at the National Industry and Mining Day celebrations, Pezechzian said that Iran has made steady progress on important issues such as the reopening of the Strait of Hormuz and the resumption of oil exports during the negotiations. Despite the US breach of contract, Irans achievements in these processes have "far exceeded expectations." Pezechzian said that discussions about the methods and results of the negotiations are welcome within Iran, but the results should not be belittled with unfounded statements. He stressed that maintaining unity and internal cohesion is crucial to Irans current situation.Market sources indicate that U.S. Chairman of the Joint Chiefs of Staff General Dan Kane has not explicitly stated whether a U.S.-Iran conflict would include ground troop operations.

Samsung Elec announces a higher Q2 profit owing to solid server-chip demand

Charlie Brooks

Jul 07, 2022 11:18


Samsung Electronics (OTC:SSNLF) Co Ltd announced its greatest April-through-June profit since 2018 with an 11 percent year-over-year gain, as demand for its memory chips from server customers more than offset decreased sales to smartphone manufacturers due to inflation.


The world's leading memory chip and smartphone manufacturer stated Thursday that its second-quarter operating profit grew to 14 trillion won ($10.73 billion) from 12.57 trillion won a year earlier.


It was quite close to Refinitiv's SmartEstimate of 14,45 trillion won.


In agreement with market estimates, Samsung (KS:005930) announced in a short earnings report that sales likely climbed by 21 percent year-over-year to 77 trillion won.


This month, Samsung will provide detailed financial results.


Large U.S. IT companies that rely heavily on data center services continued to acquire chips to meet cloud demand, insulating Samsung's chip revenue from a potential client oversupply after two years of high demand.


According to the data source TrendForce, the price of some DRAM chips, which are utilized in electronic devices and servers, decreased by around 12 percent last month compared to the same time period one year prior. As demand for smartphones and laptops decreases, analysts believe that prices will continue to fall.


"Server DRAM is currently the only feasible sales channel... As a result, Korean manufacturers were the first to signal a willingness to contemplate a quarterly price cut of more than 5 percent (for server goods) "DRAMS," according to TrendForce.


According to TrendForce, the costs of NAND Flash chips, which are used in electronic devices for data storage, are projected to decline by as much as 5 percent between July and September compared to the previous quarter.


Following two profitable pandemic years in which customers purchased devices for remote work, chipmakers throughout the globe are observing a fall in demand.


According to analysts, rising prices, worries of a dramatic market collapse, the Ukraine war, and China's COVID-19 lockdowns have hampered smartphone sales, leaving server chip demand as the only bright light.


During morning trade, the price of Samsung's stock jumped by 0.9%.


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