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The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024. Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. Other Asia-Pacific markets also opened higher. Japan's Nikkei 225 — which saw its largest loss in the previous session since the 1987 Black Monday crash — and the broad-based Topix gained over 10%. The rebound comes after South Korean markets were halted temporarily on Monday after circuit breakers activated.

Persons: Topix, Korea's Kospi, Australia's, Brent Organizations: Nikkei, U.S ., Softbank Group Corp, South, South Korean, Samsung Electronics, chipmaker SK Hynix, . West Texas Locations: Ginza, Tokyo, Japan, Asia, Pacific

☆ Declaring ‘Crisis,’ South Korean Firms Tell Managers to Work 6 Days a Week
▼ + stars: | 2024-08-05 | by ( Jin Yu Young | ) www.nytimes.com time to read: +1 min

“Back in the day,” said Lim Hyung-kyu, a retired Samsung Electronics executive now in his 70s, “my weeks were Monday, Tuesday, Wednesday, Thursday, Friday, Friday, Friday.”Mr. Lim joined Samsung, South Korea’s largest company, in 1976 and rose through the ranks to chief technology officer. For much of his 30-plus years at Samsung, working on the weekends was normal — and legal under the nation’s labor laws. South Korean labor laws cap working hours to 52 a week: 40 standard hours with up to 12 for overtime. But over the past few months, some influential South Korean companies have told executives to work longer hours, in some cases telling them to come to the office six days a week. Some people in South Korean business are predicting that lower-ranked employees and managers at smaller companies will feel pressure to follow suit.

Persons: ”, Lim Hyung, ” Mr, Lim, Mr Organizations: Samsung Electronics, Samsung, Korea’s Locations: South

Signs of a slowing U.S. economy sowed panic among investors on Monday, with a sell-off in markets that began last week turning into a global rout. The moves were a sharp reversal in major stock markets, which for much of the past year have risen to new heights, propelled by optimism about cooling inflation, solid labor markets and the promise of artificial intelligence technology. South Korea’s benchmark Kospi index fell more than 10 percent at one point. Japanese stocks have been on a tear for more than a year, fueled by a weak Japanese yen. Adding to the pressure, foreign investors have started selling off positions in Japanese stocks over the last few weeks.

Persons: ”, Andrew Brenner, Goldman Sachs, Goldman, Jordi Basco Carrera, ’, Basco Carrera, Jitters, Jesper Koll, Koll, John Liu, Melissa Eddy Organizations: Federal, Nasdaq, National Alliance Securities, Equity, Technology, Samsung Electronics, Taiwan Semiconductor Manufacturing Company, Nvidia, Intel, Allianz, Monex, Bank of Japan, Tokyo Stock Exchange Locations: Asia, Europe, Americas, Japan, U.S, Taiwan, Singapore, Australia, Hong Kong, China, Stocks, India, Netherlands, Switzerland, New York, Munich, “, New, Seoul, Berlin

☆ Samsung Employees Return to Work After Strike Fails to Win Concessions
▼ + stars: | 2024-08-05 | by ( Jin Yu Young | More About Jin Yu Young | ) www.nytimes.com time to read: +1 min

Thousands of unionized workers at Samsung Electronics in South Korea, who had declared an indefinite strike last month, had returned to work by Monday after failing to win concessions from the global tech giant. It was the first unionized action in the decades-long history of Samsung, one of the world’s biggest makers of computer chips. But the striking employees, numbering roughly 6,500 or so, accounted for only a fraction of union membership and a sliver of the company’s total work force. Most of them were back at work by Monday, according to Lee Hyun Kuk, the vice president of the Nationwide Samsung Electronics Union. But the financial burden of a prolonged, unpaid strike on employees forced union leaders to issue a back-to-work order last week.

Persons: Lee Hyun Kuk Organizations: Samsung Electronics, Samsung, Nationwide Samsung Electronics Union Locations: South Korea

☆ Samsung second-quarter operating profit soars 1,458% as AI demand remains strong; results top estimates
▼ + stars: | 2024-07-31 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +3 min

Revenue: 74.07 trillion Korean won (about $53.45 billion) vs. 73.74 trillion Korean won74.07 trillion Korean won (about $53.45 billion) vs. 73.74 trillion Korean won Operating profit: 10.44 trillion Korean won vs 9.53 trillion Korean won Samsung's revenue for the quarter ended June jumped 23.42% from a year earlier, while operating profit soared 1,458.2%. For the second half, Samsung said it expects the demand from server AI to stay strong across server products including HBM and SSD. The firm added that expanding capacity to meet demand for HBM and server DRAM could further constrain supply of conventional memory chips. Memory momentumHBM memory chips are crucial for AI chips – which have seen a huge demand enabled by the AI boom. The South Korean electronics giant saw record losses in 2023 as the industry reeled from a post-Covid slump in demand for memory chips and electronics.

Persons: Joan Cros, CLSA, SK Kim Organizations: Samsung, Mobile, Getty, Nurphoto, Samsung Electronics, Korean, SK Hynix, Nvidia, SK, Daiwa, Markets, Business Locations: Barcelona, Spain, LSEG, Korean

☆ Podcast: Samsung bets on the Galaxy Ring and AI as its next big thing
▼ + stars: | 2024-07-31 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +42 min

Along with its S24 series of smartphones, foldable devices, smartwatches and now the Galaxy Ring, Samsung is hoping to lock users into its world of products held together with its suite of artificial intelligence features, known as Galaxy AI. Arjun KharpalOne of the things Samsung said was look, the ring is one product, but we've got the watch, we've got the smartphone. I think that's the right approach for Samsung, I don't think they have unrealistic expectations for volumes on this. And you'd feel like if there was some sort of Apple ring, it would do pretty good volumes. Do you think Samsung is seriously looking at ways to monetize this via subscriptions or other kinds of service business model?

Persons: aren't, Tom Chitty, Ben Wood, Meta's Ray, Arjun, Tom Chitty I've, I've, we've, Arjun Kharpal, let's, It's, That's, it's, you've, they've, there's, they're, someone's, I'm, that's, you'll, Ben Wood It's, smartwatch, Arjun Kharpal Apple's, Ben Wood They've, Tim Cook, He's, who'd, Tom Chitty Diamond, somebody's, who've, wasn't, Samsung hasn't, we'll, Ben, they'll, Will, wearables, Kharpal, Arjun Kharpal Tom, Tom, Tom Chitty We'll Organizations: Samsung, South, Galaxy, CNBC, CCS Insight, Mobile, Apple, Garmin, Apple Watch, U.S, Vision, Samsung Electronics, Google, MWC Locations: South Korean, Paris, France, beyondthevalley@cnbc.com, There's, Finland, London

☆ CNBC Daily Open: BOJ ups rate to 0.25%; U.S. stocks fall; Starbucks' same-store sales decline
▼ + stars: | 2024-07-31 | by ( Kevin Lim | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia pulled back 7% and Microsoft fell 0.9% during the normal session before reporting earnings after the bell. Still, Microsoft beat estimates as quarterly revenue increased 15% from a year ago to $64.73 billion and net income rose to $22.04 billion. Starbucks missStarbucks' quarterly revenue slid 1% to $9.11 billion, missing forecasts as same-store sales declined for the second straight quarter. The South Korean tech giant said sales of high-end memory chips used in servers will continue to be strong.

Organizations: CNBC, New York Stock Exchange, New York City . Bank of Japan, U.S . Federal, Bank of, Nasdaq, megacaps Meta, Apple, Dow Jones, Nvidia, Microsoft, Fed, Microsoft Microsoft, Bank of Japan, Nikkei, Seng, Samsung, Samsung Electronics, Revenue, South, Reading, Fed Stock, Federal Reserve Locations: New York City, Bank of Japan, U.S, China, Shanghai

☆ Samsung hints at new products as it bets on AI to drive upgrades to its latest foldable phones
▼ + stars: | 2024-07-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +6 min

Samsung unveiled a slew of new products including foldable smartphones, new smartwatches and the Galaxy Ring. "I believe strongly that these Galaxy AI, mobile AI are strong motivation and driver for purchase of new products," he added. Still, many analysts don't expect these early AI apps alone to drive new phones sales. So we're going to provide and enhance Samsung software and apps for consumers," Roh said. He said that the hardware components required for foldable smartphones are improving, as is the relevant software.

Persons: Roh, Arjun Kharpal, Bixby, we'll Organizations: Galaxy, Samsung, CNBC, Samsung Electronics, Galaxy AI, Apple Intelligence, Apple, Google, Korean Locations: Paris, France, U.S, China

☆ Asia markets open lower as traders assess Aussie business activity data, U.S. tech earnings
▼ + stars: | 2024-07-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets fell on Wednesday as traders assessed July business activity data from Australia, tech earnings from the U.S. and awaited Japan PMI readings. Late Tuesday, automaker Toyota said it will buyback 806.85 billion yen ($5.17 billion) of its shares from major Japanese banks and insurers, including Tokio Marine , Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group . Heavyweight Samsung Electronics plunged 1.8%, even as Reuters reported that chip giant Nvidia had cleared its chips for use in a processor for the China market. The South Korean electronics company is still grappling with a strike from its largest workers union, with talks on Tuesday yielding no results, according to the National Samsung Electronics Union, which has about 30,000 members. Hong Kong Hang Seng index futures were at 17,474, just marginally higher than the HSI's last close of 17,469.36.

Persons: Topix, Australia's Organizations: Sydney Opera House, Japan PMI, Nikkei, PMI, Toyota, Tokio Marine, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Samsung Electronics, Reuters, Nvidia, National Samsung Electronics Union, Juno Bank . Hong Locations: Asia, Pacific, Australia, U.S, Japan, China, Korean, Juno Bank . Hong Kong

☆ Taiwan stole America’s chip industry according to Trump. But that’s not true
▼ + stars: | 2024-07-23 | by ( Wayne Chang | ) edition.cnn.com time to read: +7 min

Industry experts tell CNN that, far from stealing, Taiwan grew its own semiconductor industry organically through a combination of foresight, hard work and investment. The only possible strength that Taiwan had, and even that was a potential one, not an obvious one, was semiconductor manufacturing,” he said. Billionaire Morris Chang, chairman and founder of Taiwan Semiconductor Manufacturing Company, in Hsinchu, Taiwan, on October 6, 2017. It now produces more than 90% of the world’s advanced chips, according to the Semiconductor Industry Association. “Taiwan has very good tech talent and an environment for research, development and investment.

Persons: Donald Trump, Morris Chang, Chang, “, ”, Billionaire Morris Chang, Wang, Christopher Miller, Miller, TSMC, ” Konrad Young, ” Young, Cho Jung, ” Cho, Trump, Trump’s, Joe Biden, Young Organizations: Taiwan CNN — Former, Bloomberg Businessweek, Republican, Industry, CNN, Taiwan Semiconductor Manufacturing, Intel, Motorola, Texas, Computer, Taiwan Semiconductor Manufacturing Company, Bloomberg, Getty, Semiconductor Industry Association, Technology, Samsung Electronics, US, Trump Locations: Taipei, Taiwan, United States, Mountain View , California, Hsinchu, Washington, “ Taiwan, China, ”, South Korea, Arizona

☆ Asia chip stocks tumble amid news the U.S. may consider trade curbs
▼ + stars: | 2024-07-18 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

Chip stocks in Asia tumbled on Thursday following a tech selloff on Wall Street amid reports the U.S. may be considering tighter export restrictions. TSMC's suppliers also took a hit, with Japanese machinery companies Tokyo Electron slumping almost 9% while Screen Holdings fell more than 8%. Any sort of tariffs and curbs to trade are going to impact these chip companies. South Korean chip stocks were not spared. Samsung Electronics slid by nearly 2%, while SK Hynix tumbled nearly 5% and SK Square plunged nearly 10%.

Persons: Biden, Organo, Ayako Yoshioka Organizations: Bloomberg, Taiwan Semiconductor Manufacturing, Screen Holdings, Samsung Electronics, SK Hynix, SK Square Locations: U.S, China, Asia, Tokyo

☆ Asia-Pacific markets tumble as chip stocks fall; Nasdaq records its worst day since 2022
▼ + stars: | 2024-07-18 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets plummeted as chip-related stocks dropped following reports of more stringent export restrictions from the U.S. and as comments from former U.S. President Donald Trump raised geopolitical tensions. Japan's Nikkei 225 declined more than 2%, while the Topix dropped 1.13%. Shares of Tokyo Electron , which supplies to Taiwan Semiconductor Manufacturing Company , plunged more than 10%, while other chip-related stocks such as Advantest and Organo dropped more than 5% and 2%, respectively. Shares of Taiwan Semiconductor Manufacturing Company — the world's largest chip maker — fell more than 3%, dragging the Taiwan Weighted Index lower by 1.7%. The Nasdaq Composite fell nearly 2.8% overnight — posting its worst day since December 2022.

Persons: Donald Trump, Organo, —, Jerome Powell's Organizations: Nikkei, Tokyo, Taiwan Semiconductor Manufacturing Company, Samsung Electronics, Taiwan Semiconductor Manufacturing, Nasdaq Locations: Asia, Pacific, U.S, Taiwan

☆ Ambani's wedding kicks off in India this weekend. Here's who will be at the star-studded event
▼ + stars: | 2024-07-12 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

Anant Ambani fiancée Radhika Merchant pose for a photo on the red carpet during their sangeet ceremony at Jio World Centre in Mumbai. All eyes are on this weekend's mega wedding in India, where the youngest son of Asia's wealthiest man prepares to tie the knot with his long-time sweetheart after months of lavish pre-wedding celebrations. Indian tycoon Mukesh Ambani — the country's richest man and the billionaire chairman of Indian conglomerate Reliance Industries — is throwing a three-day wedding bash for his son that kicks off on Friday. The groom is his 29-year-old son Anant Ambani and 29-year-old Radhika Merchant, the daughter of Viren Merchant, owner of Encore Healthcare. The Ambani family has stayed mum about the star-studded guest list, but multiple media reports have said 16-time Grammy award winner Adele could be one of the main performers.

Persons: Anant Ambani, Radhika Merchant, Mukesh Ambani, Viren Merchant, Ambani, Adele, Drake, Mike Tyson, Kim Kardashian, Ram Nath Kovind, Boris Johnson, Tony Blair, Mark Tucker, Jay Lee, Morgan Stanley's Michael Grimes, Gianni Infantino Organizations: Reliance Industries, Encore Healthcare, Wall Street, CNBC, Business, HSBC Holdings, Samsung Electronics Co, FIFA Locations: Mumbai, India, Hollywood, Bandra

☆ Citi names undervalued global AI stocks poised for rerating — two were given 50% upside
▼ + stars: | 2024-07-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Citi has identified several undervalued global stocks exposed to artificial intelligence that present substantial investment opportunities. AI has driven approximately half the 11% return in the MSCI All Country World Index so far, according to Citi. The picture resembles the S & P 500 , where mega-cap stocks focused on AI have driven much of the rally. While many AI stocks have benefited from both expanding multiples and upward earnings revisions, Citi has identified a subset of 19 stocks that buck this trend. This dual tailwind of improving valuations and fundamentals has not been present in stocks with medium or low AI exposure — such as those in the table above.

Persons: Drew Pettit, Beata Manthey, — CNBC's Michael Bloom Organizations: Citi, Digital Realty Trust, Apple, Toyota Motor, Visa, ServiceNow, Samsung Electronics

☆ Samsung EVP: We see a continued demand for quality and innovation
▼ + stars: | 2024-07-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSamsung EVP: We see a continued demand for quality and innovationPatrick Chomet, an executive vice president at Samsung Electronics, speaks to CNBC's Arjun Kharpal. 02:55 27 minutes ago

Persons: Patrick Chomet, CNBC's Arjun Kharpal Organizations: Samsung, Samsung Electronics

☆ Samsung workers in South Korea declare an indefinite strike to campaign for better pay and leave policies
▼ + stars: | 2024-07-10 | by ( Diksha Madhok | Yoonjung Seo | ) edition.cnn.com time to read: +3 min

Seoul/New Delhi CNN —The largest labor union at Samsung Electronics in South Korea has declared an indefinite strike after a three-day walkout failed to yield any ground in a tense dispute between workers and the tech giant over pay and bonuses. The announcement Wednesday follows a strike earlier this week involving 6,000 workers, mainly from the company’s semiconductor division, according to the union. The National Samsung Electronics Union (NSEU) said that its 31,000 members — representing a nearly quarter of the company’s total workforce in the country — would launch an indefinite strike from July 10 — the largest labor action in the smartphone and chipmaking giant’s 55-year history. Samsung Electronics said last week that it estimates a more than 15-fold rise in its second-quarter operating profit, as compared to the same time previous year. Jung Yeon-je/AFP/Getty ImagesThe workers want this optimism reflected in their pay.

Persons: Jung Yeon, Son Woomok, chipmaker, ”, Woomok Organizations: New Delhi CNN, Samsung Electronics, National Samsung Electronics Union, Getty, CNN Locations: Seoul, New Delhi, South Korea

☆ 'Don't get tired': Samsung Electronics workers extend strike indefinitely, say chip production disrupted
▼ + stars: | 2024-07-10 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Workers at South Korean tech giant Samsung Electronics will extend an unprecedented strike over pay and benefits "indefinitely," its labor union said in a statement on Wednesday. This is the first strike by the labor union in Samsung Electronics' entire 55-year history, according to local media. "The company remains committed to engaging in good faith negotiations with the union," Samsung said. The NSEU, which extended the strike saying Samsung management was not keen on holding discussions, asserted the strike had disrupted chip production. Samsung Electronics is the world's largest maker of memory chips, commonly found in consumer devices such as smartphones and laptops.

Persons: Samsung, Yonhap, – CNBC's Lim Hui Jie Organizations: National Samsung Electronics Union, Workers, South, Samsung Electronics, Samsung, Hyundai Motor, Korean Locations: Hwaseong, South Korean

Unionized workers at Samsung Electronics said Wednesday they would go on an indefinite strike, an escalation of a rare labor dispute that could disrupt the technology giant’s world-leading chip business. An estimated 6,500 workers walked off the job on Monday for a planned three-day strike over pay and working conditions. The Nationwide Samsung Electronics Union decided to extend the strike after “hearing no word” from the company, according to Lee Hyun Kuk, the vice president of the union, which represents 28,000 workers, or a fifth of the Samsung’s global work force. The union said it has been negotiating with Samsung since January over vacation days and wages. “As the strike goes on, the management’s blood will dry out and they will eventually come to the negotiating table on their knees,” the union said in a statement.

Persons: Lee Hyun Kuk Organizations: Samsung Electronics, Nationwide Samsung Electronics Union, Samsung, Taiwan Semiconductor Manufacturing Company

☆ Asia markets rise after S&P 500, Nasdaq close at all-time highs; Aussie consumer confidence dips
▼ + stars: | 2024-07-09 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets opened higher on Tuesday, tracking gains on Wall Street that saw the S&P 500 and the Nasdaq Composite closing at record highs overnight. Hyundai on the other hand reached a tentative wage agreement with its labor union, averting a strike. Hyundai shares slid 1.59%. Last week, the European Union had hiked tariffs on electric vehicles imported from China. Traders in Asia will also watch out for Australia's business confidence data due later in the day.

Persons: Kospi, Mehmet Fatih Kacir, Australia's Organizations: Nasdaq, Nikkei, Samsung Electronics, Hyundai, European Union, Traders Locations: Asia, Pacific, Turkey, China

☆ Samsung really wants to outsmart Apple in the Galaxy-iPhone battle
▼ + stars: | 2024-07-06 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

From the city of Suwon, Samsung — the family-led titan of Korean industry — has been the world's top smartphone seller, beating Apple. Last month, Apple unveiled Apple Intelligence, a vision of generative AI that will give its devices a total refresh. In doing so, Apple hopes to inspire consumers to upgrade their iPhones so they can access its suite of AI features. (Only newer models like the iPhone 15 Pro and upcoming iPhone 16 line-up will offer Apple Intelligence). It debuted Galaxy AI, its first take on generative AI features for its devices, at the January launch of its flagship Galaxy S24 range.

Persons: —, Lee Jae, Park, Lee, Siri Organizations: Service, Samsung, Apple, Business, IDC, Samsung Electronics, Bloomberg, South, Apple Intelligence, AI, Samsung Galaxy, Google Locations: South, Suwon, Paris, China

☆ Analyst outlines what's behind Samsung Electronics' earnings surprise
▼ + stars: | 2024-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst outlines what's behind Samsung Electronics' earnings surpriseSK Kim, executive director and analyst at Daiwa Capital Markets, discusses factors such as higher memory prices.

Organizations: Samsung Electronics, SK Kim, Daiwa

☆ Samsung shares hit over 3-year high after better-than-expected guidance on strong AI demand
▼ + stars: | 2024-07-05 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

The stock climbed as much as 2.24% on Friday morning, trading at a high of 86,500 Korean won ($62.73), according to LSEG data. The expected operating profit beat a LSEG estimate of 8.51 trillion won. The firm also said it expects revenue for the second quarter to be between 73 trillion to 75 trillion won, from 60.01 trillion won a year ago. This is in line with the 73.7 trillion won estimated by LSEG analysts. The South Korean electronics giant saw record losses in 2023 as the industry reeled from a post-Covid slump in demand for memory chips and electronics.

Persons: Joan Cros Organizations: Samsung, Mobile, Getty, Samsung Electronics, South, LSEG, Business Locations: Barcelona, Spain, Korean

☆ Top 5 things to watch in the stock market Friday, including big jobs report
▼ + stars: | 2024-07-05 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

The June employment report on Friday morning came in slightly better than expected with the economy adding 206,000 nonfarm jobs versus 200,000 expected. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Top things to watch Friday, July 5Stocks were mixed slightly Friday following another record S&P 500 th holiday. The June employment report on Friday morning came in slightly better than expected with the economy adding 206,000 nonfarm jobs versus 200,000 expected.

Persons: Eli Lilly, Jefferies, Jim Cramer's, Jim Cramer, Jim, Constellation Brands Novo Nordisk Eli Lilly Samsung Organizations: Treasury, Constellation Brands, JPMorgan, Novo Nordisk, Samsung Electronics, Jim Cramer's Charitable, CNBC, Constellation Brands Novo Nordisk, Constellation Brands Novo Nordisk Eli Lilly Samsung Electronics

☆ CNBC Daily Open: UK Labour landslide election victory
▼ + stars: | 2024-07-05 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. UK Labour wins landslide victoryThe center-left Labour Party has won a landslide victory, ending 14 years of Conservative rule. Samsung shares climbed 2.84%, hitting their highest level since January 2021. Here are Evercore ISI's best stock ideas for the second half.

Persons: Keir Starmer's, Tony Blair's, Rishi Sunak, Brexiteer Nigel Farage, jeopardizing, Korea's Kospi, nonfarm payrolls, Saks, Neiman Marcus, Bergdorf Goodman Organizations: New York Stock Exchange, CNBC, Labour, Labour Party, Conservative, Keir Starmer's Labour, Party, Nikkei, Samsung, Samsung Electronics, CSI, S3 Partners, Saks Fifth, HBC, Saks, ISI Locations: May's

☆ Morgan Stanley says memory stocks are set for 'new highs' and names its top picks
▼ + stars: | 2024-06-27 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Morgan Stanley analysts say they are expecting the computer memory sector to hit new highs over the rest of 2024, despite investors "generally" not being comfortable buying such stocks at such lofty prices. Aside from their attractive valuations, memory stocks are expected to see a lift in demand on the back of stronger usage of artificial intelligence-powered applications, infrastructure, tools and services, the analysts added. Top pick and overweight-rated stocks SK Hynix , the South Korean chipmaker, is Morgan Stanley's "top pick." Both stocks trade on the Korean Exchange and in the iShares MSCI South Korea ETF (SK Hynix has a 10.7% weight while Samsung Electronics has a 22.2% weight). Morgan Stanley is overweight on the stock and gives it a price target of $86, or nearly 12% upside.

Persons: Morgan Stanley, Shawn Kim, Morgan Stanley's, — CNBC's Michael Bloom Organizations: SK Hynix, Samsung Electronics, South Korean, SK Hynix —, Samsung, Korean Exchange, Western Locations: Korean, Korea

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