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On January 27th, Micron Technology (MU.O) announced a $24 billion investment over the next decade in Singapore to expand its manufacturing capacity amid a memory chip shortage caused by artificial intelligence. According to a company statement, the Boise, Idaho-based chipmaker will use the funds to build a new NAND flash memory factory. The company said Tuesday that the new investment will create approximately 1,600 jobs, with wafer production expected to begin in the second half of 2028. The new factory will incorporate artificial intelligence and automation. In early 2025, Micron had already announced a $7 billion investment over the next few years to expand its manufacturing scale in Singapore to meet the demand for advanced memory chips needed to train artificial intelligence.On January 27th, UOB Kay Hian issued a research report stating that China Merchants Bank (03968.HK) is expected to see a 1.2% year-on-year increase in net profit to RMB 150.2 billion in 2025, exceeding both the banks and market forecasts. This is mainly due to improved net interest income and a continued narrowing of the year-on-year decline in non-net interest income. China Merchants Bank expects its revenue to remain stable year-on-year last year; ROE is expected to fall by 105 basis points to 13.4%. The report mentions that China Merchants Banks provision coverage ratio has plummeted to below 400%, possibly due to stricter bad debt recognition standards and accelerated disposal of non-performing assets. Despite this, China Merchants Banks provision coverage ratio remains above its peers. The bank maintains its "Hold" rating on China Merchants Bank but lowers its target price from HKD 52 to HKD 49 to reflect the latest earnings revisions and lower long-term ROE forecasts. The bank raised its 2025 earnings forecast for China Merchants Bank by 1%, but lowered its 2026 and 2027 forecasts by 2.9% and 1.1%, respectively.Samsung Electronics shares rose 3%.January 27 - Today, senior executives of CITIC Group spoke at the Asian Financial Forum, stating that the group will actively participate in the construction of the entire industry chain of the Hong Kong gold market.On January 27, German Defense Minister Boris Pistorius stated that US President Trumps remarks that allies were "shirking their duties" in the Afghan war were "wrong," and he demanded an apology from Trump. On the evening of January 25, Pistorius criticized Trumps comments about the lack of role played by US allies in the Afghan war. He said, "It is wrong and disrespectful to talk about the soldiers who died (in the war). They were all on the side of the United States at the time." Pistorius said he would raise this issue in a phone call with US Defense Secretary Peter Hegseth and demand an apology from Trump, "which (apology) would demonstrate decency, respect, and insight."

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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