EUR/USD 1.16876
-0.334%
Gold 4723.61
-0.755%
Oil 96.892
6.870%
USD/JPY 159.685
0.243%
GBP/USD 1.34042
-0.471%
GBP/JPY 214.053
-0.228%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The yield on Japans 20-year government bonds rose to 3.385%.The China Earthquake Networks Center officially reported that a magnitude 3.1 earthquake occurred at 13:11 on April 13 in Artux City, Kizilsu Kirghiz Autonomous Prefecture, Xinjiang (40.04 degrees north latitude, 76.04 degrees east longitude), with a focal depth of 17 kilometers.April 13th, Futures News: Economies.com analysts latest view: Brent crude oil futures recorded strong gains in recent intraday trading, with prices rising and retesting the key psychological resistance level of $100.00 per barrel. This rally was supported by a positive signal from the Relative Strength Index (RSI) after reaching oversold levels. Currently, prices are also approaching the resistance level of the 50-day EMA; however, a corrective bearish trend still dominates in the short term, which may limit further gains in the near term.On April 13th, UBS Bank repurchased gold. This followed a significant reduction in its gold holdings due to the market downturn caused by the Iran war. The bank stated that it believes the long-term outlook for gold remains solid. UBS is gradually incorporating gold into its clients portfolios, having previously reduced its gold holdings from approximately 10% to 3%. Since the outbreak of the war, gold prices have fallen sharply due to concerns about higher interest rates and the impact of liquidity tightening. UBS plans to further expand its gold holdings, which have now risen to approximately 6% of its clients portfolios. The bank still expects gold prices to reach $6,000 per ounce by the end of the year, as structural demand—including central bank purchases, concerns about fiscal deficits, and geopolitical tensions—remains robust.On April 13, Malaysian maritime authorities seized two oil tankers and their crews suspected of illegally transferring diesel fuel. During the operation, the Malaysian Maritime Enforcement Agency seized approximately 800,000 liters of diesel fuel, including about 700,000 liters believed to be fuel transferred between vessels without permission. The seized fuel was identified as Euro 5 standard diesel, with an estimated value of approximately RM5.43 million (approximately US$1.4 million). The total value of the seized items (including those from the two tankers) is approximately RM2.33 billion.

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%.


Suggestion