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The chart shows that at 22:00 Beijing time on May 8th, there will be large foreign exchange option orders for Euro, Swiss Franc, British Pound, Japanese Yen, etc., expiring, including 7 large orders with strike prices exceeding 1 billion. Please manage your risks.On May 8th, 17 national industry associations and chambers of commerce, including the China Federation of Logistics and Purchasing, the China General Chamber of Commerce, the China National Textile and Apparel Council, the China National Light Industry Council, and the China Federation of Internet Societies, jointly released the "Domestic Trade Transaction Guidelines (Trial)" in Beijing under the guidance of the Ministry of Commerce and other relevant departments. This guideline provides clear, explicit, and operable behavioral norms for enterprises engaged in domestic trade, including wholesale, retail, logistics, and accommodation and catering, contributing to the construction of a unified national market. According to reports, the "Domestic Trade Transaction Guidelines (Trial)" focuses on the entire domestic trade process, clarifying and stipulating regulations for each stage, including contract signing, goods delivery and acceptance, payment terms, dispute resolution, and standardized business practices.The German DAX index fell by 1.00% on the day.On May 8, the Russian Ministry of Defense reported that between midnight and 7:00 AM Moscow time, Russian air defense systems intercepted and destroyed 264 Ukrainian drones in multiple locations including the Moscow, Belgorod, and Bryansk regions. According to a post on social media by Moscow Mayor Sergei Sobyanin, as of 8:22 AM Moscow time, more than 25 drones bound for Moscow had been shot down that day. Ukraine has not yet responded to these reports.S&P 500 E-Mini futures rose 0.33%, Nasdaq 100 futures rose 0.52%, and Dow Jones futures rose 0.15%.

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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