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☆ Buy Micron stock as a chip downcycle ends and stronger pricing emerges, Deutsche Bank says
▼ + stars: | 2023-09-18 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Micron could be on the verge of gaining stronger pricing power, according to Deutsche Bank. The firm upgraded Micron stock to buy from hold on Sunday, and upgraded its target price to $85 from $65. Stock in the memory and storage solutions company has soared nearly 40% from the start of 2023. MU YTD mountain Micron stock. The analyst added that a previous cautious stance on Micron underpinned by excess inventory has largely abated, and Micron is now seeing stronger demand and pricing power for chips like the HBM DDR5 line of memory chips.

Persons: Sidney Ho, Ho, — CNBC's Michael Bloom Organizations: Micron, Deutsche Bank, MU, Wall, MIcron Locations: Stock

☆ Morgan Stanley loves these 4 tech stocks which provide parts for Tesla's supercomputer
▼ + stars: | 2023-09-15 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Morgan Stanley has revealed a list of global stocks it likes, with four of them providing parts for Tesla 's supercomputer system. Morgan Stanley says its list of tech stocks are "well-positioned for US hyperscalers' acceleration of custom chip design," especially since custom chips are expected to outgrow the AI graphics processing units in the long term. Powering Tesla's Dojo In its research note, Morgan Stanley pointed out that Taiwan Semiconductor Manufacturing Company is the wafer foundry vendor for Tesla's Dojo 1 (D1) and Dojo 2 (D2). Morgan Stanley raised their price target on AIchip to 2,880 Taiwanese dollars, a 14% upside from its Sept. 12 price. They have priced the stock at 95,000 Korean won ($71.45), giving it a 35% upside from its Sept. 12 price.

Persons: Morgan Stanley, Tesla, Morgan Stanley's, — CNBC's Michael Bloom Organizations: Tesla's, Taiwan Semiconductor Manufacturing Company, Samsung, Nvidia, NVIDIA Locations: Korean, HBM

☆ Morgan Stanley names its top stock picks — and its 'least favored' — in a corner of the chip market
▼ + stars: | 2023-09-13 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

A "recovery narrative" has been playing out in a corner of the semiconductor market this year, according to Morgan Stanley. They benefit from NAND recovery on cash flows, and a "strong competitive position" in high bandwidth memory, said the bank. Meanwhile, the potential for NAND improvement in the U.S. seems "most positive" for Western Digital, which isn't discounting a material recovery in NAND profits, Morgan Stanley said. Improving conditions Morgan Stanley said it's become more optimistic on the memory sector given that pricing and inventory conditions are improving further. Overall, Morgan Stanley expects a shortage building up in the fourth quarter and an upturn in 2024 — before peaking in 2025.

Persons: Morgan Stanley, it's, Michael Bloom Organizations: Korean chipmaker SK Hynix, Western Digital Corporation, Western Digital, SK Hynix, Samsung, Micron Locations: U.S, Asia

☆ Analysts pick 4 high-performance semiconductor stocks to play the booming market
▼ + stars: | 2023-08-29 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Analysts at an Asian brokerage and investment group have picked four semiconductor stocks to play the "booming demand" for high-performance chips. "This old semiconductor migration locomotive still has steam in it yet, even amid the current industry downcycle, thanks to booming demand for high-performance chips," CLST analysts Jason Tsang and Cathy Hsu said in a research note dated Aug. 23. Semiconductors are used in products like tablets and smartphones, and the Covid-19 pandemic led to high demand for such goods, resulting in a shortage of some types of chips. Analysts expect it to take market share from fellow chip manufacturer KLA. "In addition to expanding shipment volumes, demand improvement, content growth, and value add should together drive a boom in the semiconductor equipment market," the analysts wrote.

Persons: Jason Tsang, Cathy Hsu, Hynix, — CNBC's Michael Bloom, Arjun Kharpal Organizations: Semiconductors, Samsung, Samsung Electronics, Nvidia, CLST, AMD, SK Hynix Locations: Taiwan

☆ Chipmakers signal supply glut easing but demand recovery still slow
▼ + stars: | 2023-07-28 | by ( Joyce Lee | ) www.reuters.com time to read: +5 min

"Demand is recovering very gradually," Woohyun Kim, chief financial officer at SK Hynix, said on an earnings call this week. "The recent improvement in PC shipments has been mainly led by promotions and low-end models, meaning it provided limited impact on chip demand recovery," he said, adding that shipment forecasts for PCs and smartphones this year have been downgraded from earlier predictions. Chipmakers are also increasing production of the high-end chips used to support AI related chips. SK Hynix said demand for AI server memory had more than doubled in the second quarter compared to the first quarter. The company leads the market in high bandwidth memory (HBM) DRAM used in generative AI.

Persons: Florence Lo, Canalys, Woohyun Kim, ChatGPT, Pat Gelsinger, SK Hynix, Logan Purk, Edward Jones, Lam, Tim Archer, 1,278.7400, Joyce Lee, Akash Sriram, Akshita, Chavi Mehta, Tanya Jain, Max A, Cheney, Stephen Nellis, Miyoung Kim, Miral Organizations: REUTERS, Intel, Samsung, SK Hynix, SK, chipmaker Texas, Wall, Manufacturers, KLA Corp, Lam Research, Thomson Locations: SEOUL, China, HBM, Seoul, Bengaluru, Max, San Francisco

☆ Samsung reports 95% drop in profit, but expects global demand to recover in second half of the year
▼ + stars: | 2023-07-27 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

A Samsung Galaxy Z Fold 5 smartphone, left, a Galaxy Z Flip 5 smartphone during the Galaxy Unpacked event in Seoul, South Korea, on Wednesday, July 26, 2023. Both DRAM and NAND flash memory chips also saw "more limited price drops" which improved second-quarter performance, compared with the first quarter, Samsung said. Weak electronics demandSamsung said that overall mobile phone market demand declined from the first quarter due to continued macroeconomic challenges such as inflation. Inflation has led to consumers cutting back on purchases of these goods, driving down prices for memory chips. Focus on premium foldable phonesSamsung said it will focus on the newly launched high-end Galaxy Z Flip 5 and Galaxy Z Fold 5 series to cement its leading position in the global foldable smartphone market.

Persons: SeongJoon Cho, Nabila Popal, Bryan Ma Organizations: Samsung, Galaxy, Apple Inc, Bloomberg, Getty, International Data Corporation, Micron, SK Hynix, IDC Locations: Seoul, South Korea, China

In particular, memory chip demand from corporate buyers stocking AI data centres as well as gaming personal computers is expected to increase in the second half of the year, the world's second-biggest memory chip maker said. SK Hynix reported a 2.9 trillion won ($2.28 billion) operating loss in the June quarter, down from 4.2 trillion won profit a year earlier on weak memory chip pricing and demand. AI CHIPSSK Hynix said demand for AI server memory had more than doubled in the second quarter compared to the first quarter. SK Hynix leads the market in high bandwidth memory (HBM) DRAM used in the fast-growing field of generative AI. Samsung, the world's biggest memory chip maker, will report its detailed second-quarter financial results on Thursday.

Persons: SK Hynix, Greg Roh, Nam Dae, 1,274.1300, Joyce Lee, Heekyong Yang, Christopher Cushing, Jamie Freed Organizations: Korea's SK Hynix, Microsoft, SK Hynix's, SK, SK Hynix, Revenue, Samsung Electronics, Hyundai Motor Securities, eBEST Investment, Securities, Samsung, Thomson Locations: SEOUL, KS, HBM

Copper M&A more than doubled in 2002 to $14.24 billion from the previous year, according to an S&P Intelligence report. "So the large miners are saying it is difficult to build new supply, so let's just buy companies," McDonald said. Copper prices have been gradually losing steam since hitting their strongest levels in over seven months in January when optimism abounded about the reopening of China. The lower copper price presents M&A opportunities for Hudbay, Kukielski said, but it will also get "squeezed" if the price of copper falls below $3.50. With lack of large mines up for grabs, he is expecting that large miners will be looking to expand their production by acquiring smaller mines.

Persons: Lundin, Newmont, Stuart McDonald, Taseko, McDonald, Antaike, Peter Kukielski, Kukielski, Minto Metals, Aaron Colleran, Colleran, David Lennox, Divya Rajagopal, Melanie Burton, Denny Thomas, Marguerita Choy Organizations: TORONTO, Reuters, Nippon Mining, Metals, P Intelligence, Taseko, London Metal Exchange, Reuters Graphics Reuters, Hudbay, Japan's Sumitomo Corp, Minto Metals, Yukon, Royal Bank of Canada, Quantum Minerals, Ivanhoe Mines, Capstone, Barrick Gold, Bloomberg News, Barrick, AIC Mines, AIC, Sydney, Thomson Locations: SYDNEY, Toronto, Chile, Vancouver, Arizona, China, Hudbay, Canada, Yukon, Ivanhoe, Australia, Queensland, Melbourne

☆ Here are Monday's biggest analyst calls: Apple, Tesla, Meta, Nvidia, Shopify, Netflix, Disney & more
▼ + stars: | 2023-07-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Goldman Sachs initiates Amylyx Pharmaceuticals as buy Goldman said it sees an attractive entry point for shares of the biotech company. " Goldman Sachs reiterates Nvidia as buy Goldman said it's standing by its buy rating on Nvidia and that it likes stocks with "room for meaningful positive EPS revisions." UBS downgrades Tesla to neutral from buy UBS said in its downgrade of Tesla that strong growth is already priced in. Goldman Sachs initiates Savers Value Village as buy Goldman said the thrift store operator is a share gainer. Goldman Sachs reiterates ServiceNow as buy Goldman said it sees more upside in shares of ServiceNow as the stock remains a key beneficiary.

Persons: Piper downgrades Estee Lauder, Piper, Baird, Goldman Sachs, Goldman, Wells, Evercore, it's, Stifel, Lam, Tesla, Moffett, Rosenblatt, Raymond James, Becton Dickinson, SLB, Horton, BTIG, Needham, ServiceNow Organizations: Express, Netflix, Amylyx Pharmaceuticals, Bank of America, NTR, RBC, Research, Nvidia, MU, UBS, Semiconductor, Deutsche Bank, Apple, Deutsche, Mac, Med Tech, Schlumberger, Disney, DIS, American Express Locations: China, underperform, ServiceNow

☆ Peru's Boluarte calls protests 'threat to democracy,' key mining zones to back them
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] Demonstrators participate in a march called by Peru's General Workers Union against President Dina Boluarte's administration, in Lima, Peru, March 9, 2023. REUTERS/Alessandro Cinque/File PhotoLIMA, July 18 (Reuters) - Peru's President Dina Boluarte said on Tuesday that anti-government protests expected to begin this week are "a threat to democracy and the rule of law," seven months after the ousting of her predecessor launched months of deadly protests. Key mining areas in Peru are planning to support a new round of anti-government protests, said Jose de Echave, the head of environmental NGO CooperAccion, who added that groups of miners from the Andean country's key copper mining corridor are set to arrive in Lima. Peru's is the world's second-largest copper producer and its mining corridor in Condoroma, Cusco, is used by MMG's . Reporting by Marco Aquino; Writing by Sarah Morland; Editing by Alexander Villegas, William MacleanOur Standards: The Thomson Reuters Trust Principles.

Persons: Dina Boluarte's, Alessandro Cinque, LIMA, Dina Boluarte, Boluarte, Pedro Castillo, Jose de Echave, Peru's, Marco Aquino, Sarah Morland, Alexander Villegas, William Maclean Organizations: Peru's General Workers Union, REUTERS, HK, Thomson Locations: Lima , Peru, Peru, Lima, Condoroma, Cusco

☆ Samsung flags 96% drop in quarterly profit as chip glut drags on
▼ + stars: | 2023-07-06 | by ( ) edition.cnn.com time to read: +3 min

It would be Samsung’s lowest profit for any quarter since a 590 billion won profit in the first quarter of 2009, according to company data. Shares in Samsung (SSNLF) fell 1.4% in early morning trade, underperforming a 0.6% drop in the wider market. In the January to March quarter, the company reported a whopping 4.58 trillion won loss in its chip business as memory chip prices fell further and its inventory values were slashed. But in the second quarter, losses in Samsung’s memory chip business likely shrank due to more sales of DRAM chips — used in PCs, mobile phones and servers — analysts said. Revenue in April to June likely fell 22% from the same period a year earlier to 60 trillion won, Samsung said in the statement.

Persons: Refinitiv, ”, Kang, Greg Roh Organizations: Samsung Electronics, Samsung, Daishin Securities, Hyundai Motor Securities, ”, Apple Locations: Seoul

☆ Samsung profit likely lowest in more than 14 years as chip glut persists
▼ + stars: | 2023-07-05 | by ( Joyce Lee | ) www.reuters.com time to read: +2 min

SEOUL, July 6 (Reuters) - Samsung Electronics' (005930.KS) June-quarter profit is expected to plunge 96% on-year to the lowest for any quarter in more than 14 years, as a chip glut continues to drive large losses in the tech giant's cash cow business despite a supply cut. If so, it would be Samsung's lowest profit since the fourth quarter of 2008, when Samsung Electronics reported a consolidated operating loss of about 740 billion won. It compares with an operating profit of 14.1 trillion won in the April-June quarter last year. This is because its chip division, traditionally its biggest earner, likely reported quarterly losses of around 3 trillion to 4 trillion won as memory chip prices fell further and its inventory values were slashed. Despite the current downturn, Samsung is working to increase its share of chip demand from the exploding field of artificial intelligence (AI), such as with high bandwidth memory (HBM) and chip contract manufacturing, they said.

Persons: 1,298.7800, Joyce Lee, Sonali Paul Organizations: Samsung Electronics, Samsung, Apple, Thomson Locations: SEOUL, KS, Seoul

☆ Analysts reveal a $12 billion opportunity to tap the A.I. buzz, naming stocks to play it
▼ + stars: | 2023-06-14 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

As the use of AI grows, more and more memory is required; indeed, Morgan Stanley called memory the "foundational building blocks" of artificial intelligence. Nvidia and DRAM Nvidia has been at the center of the AI buzz, and it recently reported much better-than-expected results and a huge forecast beat driven by strong AI demand. Samsung Electronics Another top pick for both Morgan Stanley and Citi is Samsung Electronics . Morgan Stanley says Samsung is an indirect beneficiary of tighter supply driven by AI GPU and server demand. "We view our OW call as more defensible on costs, balance sheet strength and the ability to weather a severe downturn better," Morgan Stanley said.

Persons: Morgan Stanley, Henry Mallari, It's, BofA, Samsung, — CNBC's Michael Bloom Organizations: Ariel Investments, CNBC Pro, Citi, Nvidia, Microsoft, Google, Bank of America, AMD, Intel, NVIDIA, SK Hynix South, SK Hynix South Korean chipmaker SK Hynix, Korean, SK Hynix, Samsung Electronics, Samsung Locations: Korea, SK Hynix South Korean

☆ Morgan Stanley: This stock provides a cheaper way to play Nvidia's A.I. boom
▼ + stars: | 2023-06-02 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Artificial intelligence is gaining in popularity, but there's a "cheaper" way to play it, according to Morgan Stanley. "Memory is a cheaper way to play the start of AI's explosive new decade-long growth phase," Morgan Stanley analysts wrote in a May 29 note. BofA in a separate June 1 report also named SK Hynix as a top pick, saying it will benefit from Nvidia's push into AI. It gave SK Hynix a price target of 160,000 won, or upside of more than 40%. Stocks are "materially cheaper" now than in the previous cycle, Morgan Stanley said.

Persons: Morgan Stanley, Morgan Stanley's, —, — CNBC's Michael Bloom Organizations: Korean chipmaker SK Hynix, SK Hynix, Nvidia, NVIDIA

☆ Canadian dealmakers expect low-carbon shift will drive mining M&A
▼ + stars: | 2023-04-20 | by ( Maiya Keidan | ) www.reuters.com time to read: +3 min

TORONTO, April 20 (Reuters) - Canadian advisors to mergers and acquisitions (M&A) expect a shift toward low-carbon technologies and government subsidies for them will spur dealmaking in mining for years to come and some are already gearing up for it. Clients are hiring mining people within dealmaking teams, and boutique M&A advisory firms are adding talent, mostly in mining, he said. Canada this year expanded an investment tax credit to equipment needed by mining companies - and any other companies in the EV supply chain - to extract or process critical minerals. For copper and nickel deals, it was the best quarter on record since at least 1990, the data showed. "Mining is one of those sectors where you really want to be prepared for the inevitable market pickup."

☆ Big copper deals to take centerstage in Santiago as demand heats up
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +4 min

Lundin Mining Corp (LUN.TO) is paying nearly $1 billion for control of Chile's Caserones copper mine despite ongoing political uncertainty in the country. "The green transformation theme remains a strong tailwind for copper, the king of green metals," Saxo Bank strategist Ole Hansen told Reuters. Global copper demand expected to reach 53 million tonnes annually by 2053 - more than double current levels - but supply is still expected to fall short, according an S&P Global (SPGI.N) study. And Hudbay Minerals Inc (HBM.TO) last week said it would pay $439 million for rival Copper Mountain Mining Corp (CMMC.TO). Neighboring Peru, the world's second-largest copper producer, also expects to boost production this year.

LIMA, Feb 16 (Reuters) - Peru's top copper mines are starting to see activity hit harder by protests and blockades in the country's southern Andes, power data reviewed by Reuters shows, with Chinese-owned Las Bambas and Glencore PLC's Antapaccay currently worst affected. Those are MMG's (1208.HK) Las Bambas, Peru's third largest copper mine, and Glencore's (GLEN.L) Antapaccay, which have both been hit by blockades on a key mining corridor highway. The data backs this up, suggesting that mines are at times getting some supplies through the blockades, with Las Bambas in recent days see-sawing between full and half power use. Reuters GraphicsRepresentatives from Las Bambas, Antapaccay and Constancia were not immediately available to comment on whether they were receiving inputs for their operations or sending their concentrates in the two-day window with the blockades eased. "Anecdotal reports and high frequency data suggest that ongoing civil unrest in Peru is beginning to choke off activity at key copper mines.

The analysis of power usage data by Reuters at some of the key mines in Peru, the world's no. The South American nation has been gripped by anti-government protests since the Dec. 7 ouster of leftist President Pedro Castillo. The power data from COES, which represents firms in Peru's energy sector, shows that nearly all major mines are drawing normal or near-normal levels of electricity. A combined index of six key mines is near normal. The other firms did not immediately respond to requests for comment about activity at their mines in Peru.

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