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July 19th - According to CNN, the US military announced that two US troops stationed in Jordan were killed in action yesterday, and another is missing. This news is bound to further fuel anger among those in the US who oppose the war. In the first phase of the US-Iran war, 13 US military personnel have already died. Subsequently, a pilot died in a plane crash, bringing the death toll to 14. The latest casualties will bring the total number of US military deaths to 16, or even 17. This is clearly an extremely difficult moment for Trump. The American public generally does not support the war, and these casualties are likely to further erode public support for the war.According to Israels Channel 13, the United States is preparing to expand its operations against Iran by sending approximately 100 refueling aircraft to the Middle East. Israeli defense agencies are preparing for a potential major escalation in the region.July 19th - According to Axios, US military officials stated that two US service members were killed and several others injured in an Iranian ballistic missile attack on a Jordanian airbase on Saturday. This attack marks the first US military deaths since the conflict resumed two weeks ago. It also brings the total number of US military deaths in this round of the war to 16. It is reported that Iran launched at least two ballistic missiles on Saturday, hitting the Mowafak Salti airbase in Jordan. This base houses US troops and fighter jets.U.S. Central Command: Two U.S. service members were killed in Jordan on July 17, and another U.S. service member is missing.July 19th - A study released on the 18th by the Italian Confederation of Business, Tourism and Services Businesses indicates that with increasingly frequent extreme weather events, prolonged heatwaves could cause Italy economic losses of €6 billion to €12 billion (approximately RMB 46.5 billion to 93 billion) annually. The report points out that if Italy experiences 30 to 60 days of extreme heat each year, businesses will face multiple pressures, including rising energy costs, decreased labor productivity, forced increases in adaptive investments, and reduced turnover. High temperatures will also alter consumer and tourism habits, further impacting the commerce and tourism sectors.

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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