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☆ Samsung Electronics' operating profit jumps 932.8% in first quarter, beats expectations
▼ + stars: | 2024-04-30 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +4 min

Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in Seoul, South Korea, on Monday, Jan. 15, 2024. Here are Samsung's first-quarter results versus LSEG estimates: Revenue: 71.92 trillion Korean won (about $52.3 billion), vs. 71.04 trillion Korean won71.92 trillion Korean won (about $52.3 billion), vs. 71.04 trillion Korean won Operating profit: 6.61 trillion Korean won, vs. 5.94 trillion Korean won Samsung's revenue for the quarter ending March jumped 12.81% from a year ago, while operating profit soared 932.8% in the same period. The figures were in line with the company's guidance earlier this month, where Samsung said operating profit in the January-March quarter likely rose to 6.6 trillion Korean won, up 931% from a year ago. The South Korean electronics giant saw record losses in 2023 as the industry reeled from a post-Covid slump in demand. Operating profit increased to KRW 6.61 trillion as the Memory Business returned to profit by addressing demand for high value-added products," Samsung Electronics said in a statement on Tuesday.

Persons: SeongJoon Cho, SK Kim, Kim, TSMC, Biden Organizations: Samsung Electronics Co, Samsung, Bloomberg, Getty, Samsung Electronics, Memory Business, SK, Daiwa, CNBC, Micron, Citi, —, Japan's Rapidus Corporation Locations: Seoul, South Korea, Korean, Taiwan, Texas, U.S, Asia

☆ Samsung stock: Shares rise after tech firm reports big jump in profit
▼ + stars: | 2024-04-29 | by ( ) edition.cnn.com time to read: +4 min

The upbeat outlook from the world’s largest memory chip maker sent its shares 1.8% higher on Tuesday after it reported a more than 10-fold rise in first-quarter operating profit. Operating profit rose to 6.6 trillion won in January to March, up from 640 billion won a year earlier. It was the company’s highest operating profit since the third quarter of 2022. Samsung’s mobile devices business booked a 3.51 trillion won operating profit in the first quarter, down from 3.94 trillion won a year earlier. Rising costs, including increased memory chip prices, dented margins from its flagship Galaxy S24 smartphones launched during the quarter.

Persons: ” Jaejune Kim, Jeff Kim, ” Kim Organizations: Seoul Reuters, Samsung Electronics, Samsung, SK Hynix’s, Nvidia, SK Hynix, AMD, KB Securities, Apple Locations: Seoul, China

☆ Nvidia supplier SK Hynix reverses losses in first quarter on explosive AI demand
▼ + stars: | 2024-04-25 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

SK Hynix Inc. signage at the company's office in Seongnam, South Korea, on Monday, April 22, 2024. SK Hynix is the world's second-largest memory chipmaker after Samsung Electronics and supplies high-bandwidth memory chips catering to AI chipsets for companies like Nvidia . The explosive demand for AI chipsets boosted the high-end memory chip market, hugely benefiting players like SK Hynix and Samsung Electronics. To meet AI memory demand, the firm said it plans to increase supply of HBM3E – the latest generation of high-bandwidth memory for AI. SK Hynix said it will also introduce 32GB Double Data Rate 5 products this year to strengthen its leadership in the high-capacity server DRAM market.

Persons: SeongJoon Cho Organizations: SK Hynix Inc, SK Hynix, Bloomberg, Getty Images, South Korean, Revenue, Samsung Electronics, Nvidia Locations: Seongnam, South Korea, HBM3E

☆ Top Wall Street analysts pick these 3 stocks for attractive returns
▼ + stars: | 2024-03-31 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Wall Street analysts are ignoring the short-term noise and remain focused on companies that have strong fundamentals and can generate attractive returns in the long run. Bearing that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Micron TechnologyThis week's first stock pick is memory chipmaker Micron Technology (MU), which impressed investors with its strong quarterly performance. Bolton noted that Micron's HBM3E memory solution generated revenue in the fiscal second quarter and has already sold out for calendar year 2024. He highlighted management's commentary about generating several hundred million dollars of revenue from HBM3E in fiscal 2024 and driving fiscal 2025 revenue to record highs.

Persons: Needham, Quinn Bolton, Bolton, TipRanks, LULU, Robert Drbul, Drbul, Christopher Rolland, Rolland Organizations: Wall Street, Micron, Micron Technology, MU, Bolton, Broadcom, Susquehanna, Symantec, VMware Locations: Santa Monica, United States, U.S

☆ Now that Nvidia's launched powerful AI chips, Goldman expects these 3 stocks to get a boost
▼ + stars: | 2024-03-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

In the wake of Nvidia 's launch of powerful new artificial intelligence chips, Goldman Sachs is predicting major growth for memory chips used in AI systems. Called Blackwell, the new GPU chips from Nvidia that power AI models require the latest third-generation memory chips, also known as high-bandwidth memory (HBM/HBM3E). The investment bank expects the total addressable market for HBM to expand tenfold to $23 billion by 2026, up from just $2.3 billion in 2022. The Wall Street bank sees three major memory makers as prime beneficiaries of the booming HBM market: SK Hynix , Samsung Electronics and Micron . Investors have been cautious about the memory market for AI systems since all three major suppliers are due to expand manufacturing capacity and add downward pressure on profit margins.

Persons: Goldman Sachs, Blackwell, Giuni Lee, Goldman, Peter Lee, Jensen Huang, — CNBC's Michael Bloom Organizations: Nvidia, HBM, SK Hynix, Samsung Electronics, Micron, Investors, Intelligence, Innovation Fund, MU, Goldman, Citi Locations: U.S, Germany

Bernstein lowered its price target on Tesla, calling for 30% downside. Meanwhile, Mizuho raised its price target on Micron, citing a growing AI opportunity. The firm reiterated a buy rating on the computer storage and memory stock on Monday and raised its price target to $130 per share from $124. — Brian Evans 5:53 a.m.: Bernstein cuts Tesla price target Longtime Tesla bear Toni Sacconaghi lowered his price target on the EV maker to $120 from $150, citing growing demand constraints. TSLA YTD mountain TSLA ytd — Fred Imbert

Persons: Bernstein, Mizuho, Jason Getz, — Brian Evans, Toni Sacconaghi, Tesla, Sacconaghi, Fred Imbert Organizations: CNBC, Micron, Mizuho, Mizuho Securities Locations: China, Europe

☆ All eyes are on Nvidia this week, but another AI play is getting buzz before earnings
▼ + stars: | 2024-03-18 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Micron touts HBM3E as an essential component to move the needle forward on AI advancement, and so far, analysts agree. Mosesmann's buy rating and $140 per share price target represents 50% upside from Friday's close. The analyst maintains an outperform rating on Micron stock as well as a $120 per share price target, which equates to roughly 29% upside. The firm maintains a buy rating on Micron coupled with a $112 per share price target, more than 20% above the previous close. The analysts raised his price target to $150 from $95, calling for about 61% upside moving forward.

Persons: Rosenblatt, Hans Mosesmann, Mosesmann's, TD Cowen, Krish Sankar, Mehdi Hosseini, Citi's Christopher Danely, Danely Organizations: Micron Technology, Nvidia, GTC Conference, Micro, Analysts, Micron, MU, AMD

☆ 2 AI beneficiaries that haven't caught up yet, according to top value investor
▼ + stars: | 2024-03-16 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Artificial intelligence-adjacent stocks have been the clear leaders of this bull rally, but there may still be some potential beneficiaries of the trend that haven't caught up yet, according to Aaron Dunn. Shares of Micron have rallied 9% so far this year, but Nvidia has gained 77% over the same time period. MU 6M mountain MU 6-month chart Dunn also listed professional services firm Accenture as a potential AI beneficiary. "Businesses will need help in understanding how AI should be used and the eventual implementation of those technologies," he said. ACN 6M mountain ACN 6-month chart Dunn's fund, Eaton Vance's Focused Value Opportunities Fund , has underperformed its benchmark, the Russell 1000 Value Index , so far this year.

Persons: Aaron Dunn, Dunn, Eaton Vance, he's, that's, it's, —, Eaton Organizations: Morgan Stanley Investment Management, Eaton Vance Value, CNBC, Micron, Accenture, U.S, MU, Nvidia, Morningstar

☆ Samsung unveils new memory chip with 'highest-capacity to date' for AI
▼ + stars: | 2024-02-27 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Samsung Electronics on Tuesday said it has developed a new high-bandwidth memory chip that has the "highest-capacity to date" in the industry. The South Korean chip giant claimed the HBM3E 12H "raises both performance and capacity by more than 50%." Samsung Electronics is the world's largest maker for dynamic random-access memory chips, which are used in consumer devices such as smartphones and computers. Generative AI models such as OpenAI's ChatGPT require large numbers of high-performance memory chips. "As AI applications grow exponentially, the HBM3E 12H is expected to be an optimal solution for future systems that require more memory.

Persons: Yongcheol Bae, Bae, Jensen Huang Organizations: Samsung, Samsung Electronics, Nvidia, datacenters Locations: Seoul, Texas, U.S

☆ Stocks making the biggest moves midday: Berkshire Hathaway, R1 RCM, Freshpet, Amer Sports and more
▼ + stars: | 2024-02-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Earlier in the session, the conglomerate's stock reached all-time highs, following strong operating earnings in its fourth quarter. Pilgrim's Pride — Shares climbed 6.2% after the meat processing company beat Wall Street's expectations for the fourth quarter. Amer Sports — The athletic retailer climbed 3% on the back of a slew of bullish calls from Wall Street analysts. Fresh Del Monte Produce — Shares fell 2% after the agriculture company reported quarterly results that fell short of expectations. Revenue of $1.01 billion was lower than the consensus estimate of $1.03 billion.

Persons: Berkshire Hathaway —, Morgan Stanley, Pilgrim's, FactSet, Wilson, Arc'teryx, — CNBC's Brian Evans, Michelle Fox, Lisa Kailai Han, Alex Harring, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: Berkshire, U.S . Securities, Exchange Commission, Amer, Wall Street, Micron Technology, —, HSBC, Alcoa —, Alcoa, Fluence Energy, Susquehanna Financial, Produce, FactSet, PPG, PPG Industries Locations: FactSet ., U.S, Canada

☆ Nvidia unveils an update to a new A.I. chip that hasn't even shipped yet — an aggressive move to keep its crown
▼ + stars: | 2023-08-09 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

"No one is coming for Nvidia on AI, period, any time soon," Stifel analyst Ruben Roy told CNBC in an interview Wednesday. The new version of Grace Hopper primarily delivers improvements in memory capacity and bandwidth compared with the first-generation product. In practice, improving the memory capacity and bandwidth of the Grace Hopper Superchip should help AI applications run more efficiently and smoothly. Volume production of the improved Grace Hopper Superchip is expected in the second quarter of 2024, according to Nvidia. Open-source software Nvidia's closed-source CUDA software platform – along with a library of pre-trained AI models — has helped establish the company's AI dominance.

Persons: it's, Grace Hopper Superchip, Ruben Roy, Grace Hopper, ChatGPT, Roy, Hopper, Nvidia, Pat Gelsinger, Nvidia's, Omniverse, Jim Cramer, Nvidia hasn't, Jim, enabler —, Jim Cramer's, Jensen Huang, Walid Berrazeg Organizations: Nvidia, Club, Devices, CNBC, Microsoft, Bank of America, AMD, Nvidia DGX, Intel, BMW, Computer, Getty Locations: Taipei

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