Samsung Electronics Co Stock (OTC: SSNLF)

Dernières nouvelles pour Samsung Electronics Co (OTC:SSNLF) Stock

Samsung Electronics is a diversified electronics conglomerate that manufactures and sells a wide range of products, including smartphones, semiconductor chips, printers, home appliances, medical equipment, and telecom network equipment. More than half of its profit is generated from semiconductor business, and a further 20-25% is generated from its mobile handset business, although these percentages vary with the fortunes of each of these businesses. It is the largest smartphone and television manufacturer in the world, which helps provide a base demand for its component businesses, such as memory chips and displays, and is also the largest manufacturer of these globally.

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Samsung Electronics Co Ltd

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is expediting the certification process of Samsung Electronic Co.&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) AI memory chips.
What Happened: This information was confirmed by Nvidia&#8217;s CEO, Jensen Huang, at an event at the Hong Kong University of Science and Technology on Saturday, <a href="https://www.bloomberg.com/news/articles/2024-11-23/nvidia-working-as-fast-as-it-can-to-certify-samsung-s-ai-memory?srnd=homepage-asia">reported</a> Bloomberg.
Huang said that Nvidia is evaluating both 8-high and 12-high HBM3E offerings from Samsung.
Notably, the Nvidia CEO did not include Samsung in the list of major partners he mentioned during a post-earnings call with analysts earlier this week.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42103355/nvidias-blackwell-set-to-outpace-hopper-heres-what-ceo-jensen-huang-predicted-for-2025">Nvidia&#8217;s Blackwell Set To Outpace Hopper? Here&#8217;s What CEO Jensen Huang Predicts For 2025</a>
At that time, Huang highlighted the impressive list of partners including Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Amphenol (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APH#NYSE">APH</a>), SK Hynix (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCF#OTC">HXSCF</a>), Foxconn, Micron Technology Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MU#NYSE">MU</a>), and Dell Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>).
Nvidia reported <a href="https://www.benzinga.com/24/11/42099904/nvidia-q3-earnings-highlights">third-quarter revenue</a> of $35.1 billion, a 94% increase year-over-year, surpassing the Street consensus estimate of $33.12 billion, according to data<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112024&amp;t=be2bearmibe3na1"> from Benzinga Pro.</a>
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Why It Matters: This development follows <a href="https://www.benzinga.com/markets/equities/24/07/39924480/nvidia-greenlights-samsungs-high-bandwidth-memory-chips-for-ai-chips-in-china-report">Nvidia&#8217;s initial approval</a> of Samsung&#8217;s fourth-generation high bandwidth memory in July.
This marked the first time Nvidia approved the use of Samsung's HBM3 chips, albeit for a less advanced Nvidia graphics processing unit (GPU), the H20, specifically designed for the Chinese market.
However, Samsung&#8217;s delay in obtaining Nvidia&#8217;s certification for AI memory chips has given competitors SK Hynix and Micron an <a href="https://www.benzinga.com/markets/asia/24/10/41645191/samsung-profits-soar-but-companys-nvidia-ai-chip-race-lag-allows-sk-hynix-micron-to-take-the-lead-in">edge in the high-bandwidth memory</a> market.
Nvidia&#8217;s new Blackwell AI chips are reportedly <a href="https://www.benzinga.com/24/11/42028342/blackwell-backfires-nvidias-ai-chips-struggle-with-server-overheating-impacting-meta-microsoft-and-musks-xai-data-centers">facing overheating problems</a>. When asked about it during the earnings call, Huang sidestepped the question and instead highlighted that the supply levels surpassed initial expectations.
Nvidia&#8217;s CFO, Colette Kress, also said the company <a href="https://www.benzinga.com/24/11/42103355/nvidias-blackwell-set-to-outpace-hopper-heres-what-ceo-jensen-huang-predicted-for-2025">shipped 13,000 GPU samples</a> in the third quarter, including one of the first Blackwell DGX samples to OpenAI.
&#8220;Blackwell demand is staggering, and we are racing to scale supply to meet the incredible demand customers are placing on us,&#8221; Kress stated during the call.
Price Action: Nvidia shares dropped 3.22% on Friday, closing at $141.95, and saw a further decline of 0.13% in after-hours trading, reaching $141.77 as of the latest update, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Jensen Huang's Nvidia Fast-Tracks Samsung's AI Memory Certification As AI Giant Looks To Catch Up To Demand

Huawei Technologies Co. is reportedly set to release its most advanced domestically made chip in the Mate 70 series, amid ongoing U.S. sanctions.
What Happened: The new chip will power select models in Huawei's Mate 70 lineup, which is expected to launch next week, <a href="https://www.wsj.com/tech/huaweis-chip-advances-threaten-apple-in-china-165a1e9e?mod=tech_lead_story">reported</a> the Wall Street Journal, citing people familiar with the matter.
The launch comes as Huawei continues to increase its market share in China, where it has seen a rise in consumer demand.
In the third quarter of this year, Huawei's market share in China grew to 15.3% from 8.6% last year, positioning it as a significant competitor to Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in the high-end smartphone market.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41017367/huawei-riding-high-on-trifold-success-launches-revolutionary-laptop-powered-by-homegrown-chips-softw">Huawei, Riding High On Trifold Success, Launches Revolutionary Laptop Powered By Homegrown Chips, Software — China Ready To Break Free From US Tech Dependence?</a>
The new chips, produced by Semiconductor Manufacturing International Corporation or SMIC, leverage advanced technologies to improve performance and power efficiency, allowing Huawei to compete more effectively with Apple's offerings.
&#8220;The Mate 70 will continue to put more pressure on Apple in China,&#8221; said IDC vice president Bryan Ma, according to the report.
Although Huawei's chips still lag behind Apple's in terms of power efficiency, he noted that the difference may not be significant as long as users can get through the day without worrying about charging, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This development coincides with an earlier report that suggested Huawei plans to begin <a href="https://www.benzinga.com/news/24/11/42105518/huawei-to-reportedly-take-on-nvidia-with-mass-production-of-new-ai-chips-by-2025-amid-us-restrictions">mass production of its new AI chip</a>, the Ascend 910C, in early 2025, despite facing major challenges from U.S. trade restrictions.
In May earlier this year, the Joe Biden administration <a href="https://www.benzinga.com/markets/asia/24/05/38682654/biden-administration-tightens-grip-on-chinas-huawei-revokes-key-export-licenses-from-us-chipmakers">canceled export licenses</a> for leading U.S. semiconductor companies such as Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), blocking them from providing essential chips to Huawei.
During the same month, a report from Counterpoint Research suggested that <a href="https://www.benzinga.com/news/24/05/39107001/after-apple-huawei-takes-on-samsung-in-race-to-become-worlds-top-foldable-phone-maker-report">Huawei surpassed</a> Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) in global foldable smartphone shipments for the first quarter of 2024.
Last month, U.S. lawmakers called on the Department of Commerce to take stronger measures against Huawei&#8217;s reported efforts to evade sanctions by using a <a href="https://www.benzinga.com/markets/asia/24/10/41368844/us-lawmakers-demand-tougher-action-on-huaweis-secretive-chip-network">covert network of semiconductor facilities</a>.
Price Action: At the time of writing, Apple shares increased by 0.02% to $228.56 in after-hours trading, following a 0.21% decline to $228.52 during Thursday's regular session, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
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Apple Faces New Challenge As Huawei Advances Domestic Chip Tech In Mate 70 Series Amid US Sanctions: Report

ChatGPT-parent OpenAI is reportedly considering developing a web browser to challenge Alphabet Inc. subsidiary (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google&#8217;s dominance. This follows the U.S. Department of Justice's <a href="https://www.benzinga.com/government/regulations/24/11/42119020/alphabet-bleeds-over-120-billion-in-market-value-eyes-worst-day-in-10-months-after-doj-demands-google-chrome-sale">push for Google to divest Chrome browser</a>.
What Happened: OpenAI has discussed its plans with app and website developers, including notable names like Conde Nast, Redfin, Eventbrite, and Priceline, <a href="https://www.theinformation.com/articles/openai-considers-taking-on-google-with-browser">reported</a> The Information, citing people familiar with the development.
The idea is to develop a web browser that would integrate with its chatbot. The AI startup has also discussed or secured deals to power search features including travel, food, retail websites, and real estate.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/42123646/google-anthropic-deal-in-jeopardy-as-us-justice-department-looks-to-snap-online-search-monopoly">Google, Anthropic Deal In Jeopardy As US Justice Department Looks To Snap Online Search Monopoly</a>
OpenAI has also been in talks to provide AI features for Samsung Electronics Co.'s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) devices, a <a href="https://www.benzinga.com/markets/equities/24/07/39711663/samsung-unveils-phones-with-gemini-ai-integration-but-hikes-prices-will-customers-budge">major partner of Google</a>, the report noted.
The ChatGPT-maker already has a partnership with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), according to which it powers the &#8220;Apple Intelligence&#8221; features on the company's new devices.
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Why It Matters: Sam Altman-led OpenAI has already <a href="https://www.benzinga.com/news/24/10/41663190/openai-rolls-out-chatgpt-search-google-shares-slide">ventured into the search</a> space with its SearchGPT product.
Meanwhile, Google's hold on the search market has come under scrutiny. On Thursday, DOJ argued that Google's control of Chrome is a form of antitrust monopoly.
Alphabet's shares fell more than 6% in Thursday morning trading in New York, witnessing its largest drop since January 2024.
This decline erased over $120 billion in market value, pushing Alphabet&#8217;s valuation below the $2 trillion mark.
At the time of writing, Alphabet's market capitalization was at $2.063 trillion, making it the fifth most valuable company in the world now following Nvidia Corp., Apple, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Amazon.com Inc.
Earlier this year an internal email from Microsoft surfaced, indicating that the company&#8217;s investment in OpenAI was <a href="https://www.benzinga.com/news/24/05/38582364/microsofts-fear-of-googles-ai-dominance-led-to-openai-investment-internal-email-reveals-were-multipl">motivated by fears</a> of lagging behind Alphabet&#8217;s AI advancements.
Since 2019, Microsoft has invested roughly $14 billion in ChatGPT-parent.
Price Action: On Thursday, Alphabet's Class A shares dropped 4.74%, ending at $167.63, while Class C shares decreased 4.56%, closing at $169.24. After hours, Class A shares fell another 0.42% to $166.93, and Class C shares slipped 0.38% to $168.59, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/tech/24/11/42105079/googles-unlawful-behavior-stifles-market-entry-for-rivals-doj-says-alphabet-must-sell-chrome-to-end-search-monopoly">Google&#8217;s &#8216;Unlawful Behavior&#8217; Stifles Market Entry For Rivals: DOJ Says Alphabet Must Sell Chrome To End Search Monopoly</a></li>
</ul>
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ChatGPT-Parent OpenAI Considers Building Its Own Web Browser To Challenge Google's Search Monopoly, Following DOJ Push To Break Up Chrome Dominance

<a href="https://www.theinformation.com/articles/openai-considers-taking-on-google-with-browser" title="https://www.theinformation.com/articles/openai-considers-taking-on-google-with-browser">https://www.theinformation.com/articles/openai-considers-taking-on-google-with-browser</a>

'OpenAI Considers Taking on Google With Browser' - The Information

According to Circana, a market research company, sales of ultra-large TVs – 97 inches and bigger – have gone up by 877% in the last year, while prices have dropped by 53%.&nbsp;
More than 70% of Best Buy&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) stores in the United States now feature these ultra-large TVs, making it simpler to see and buy them. XXL TVs are also available at retailers like Target, Walmart and Costco.
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The popularity of these big TVs is due to better technology, cheaper production and more consumer interest. As CNN reports, during the pandemic, many people bought 65-inch TVs to make staying at home more fun and now, a few years later, many are ready to upgrade to even bigger screens.
Price is one of the biggest drivers of this behavior. A year ago, 98-inch TVs were seen as <a href="https://www.benzinga.com/news/24/01/36575301/this-massive-137-inch-foldable-tv-is-futuristic-luxurious-and-out-of-most-peoples-reach">luxury items</a>, but now they are available for prices between $1,699 and $2,999 and many stores offer free delivery and installation. Prices for TVs between 75 and 96 inches have also come down, though not as much – they are down by about 6%, with sales increasing by 19%. Meanwhile, XXL TVs are becoming more common.
With more price options, it&#8217;s easier for people to invest in a home theater-like experience.&nbsp;
Trending: The global games market is projected to generate $272B by the end of the year –<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>
The appeal of XXL TVs is not just because of their size; it's also about their features. Brands like Samsung (OTCPK: SSNLF) and LG have added new technology, like multi-view modes, which let you split the screen into four parts to watch different things at the same time. This is fantastic for sports enthusiasts who like to follow several games. Some TVs also use AI to enhance picture quality, which results in a more enjoyable viewing experience.
However, the appeal of XXL TVs isn't just for movies and sports but also <a href="https://www.benzinga.com/news/24/01/36594962/netflix-games-download-surge-by-180-signaling-success-in-gaming-expansion">for gamers</a> because these big screens have features like low input lag, high refresh rates and support for the latest gaming consoles. Better sound quality, with features like Dolby Atmos, makes the experience more enjoyable and immersive.
If you're unsure if these big TVs will fit in your living room, tools like Best Buy's AR Viewer can help you see how a 97-inch TV will look in your space before buying it.
See Also: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target –<a href="https://www.benzinga.com/money/mode-mobile-2"> You can still get 4,000 of its pre-IPO shares for just $1,000</a>
The rise in XXL TV sales has boosted the industry, which has had some struggles recently. With higher costs due to inflation, people have been more careful about spending money on big purchases. Nevertheless, Corie Barry, the CEO of Best Buy, stated that when customers realize the advantages, they are still prepared to spend money on expensive goods. With their more affordable costs and superior features, XXL TVs appear to be a good fit.
Paul Gagnon, from consumer research firm Circana, noted that this trend is similar to what happened a few years ago with 65-inch TVs: People upgraded for a better viewing experience and now they're upgrading again for even larger screens. This trend toward bigger TVs is expected to continue through 2025, as more people replace their pandemic-era TVs with newer, larger models.
If you are considering an upgrade, now seems like a good time. Prices are dropping, features are improving and XXL TVs are easier to find. The trend toward bigger screens will continue, creating better home entertainment options.
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Shopping Spree – Sales Of Ultra-Large XXL TVs Have Skyrocketed 877% As Prices Drop By 53% In The Past Year

Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) announces plans to <a target="_blank" href="https://news.samsung.com/global/samsung-electronics-to-buy-back-krw-10-trillion-in-stock" rel="noreferrer noopener">repurchase </a>shares worth 10 trillion won (~$7.17B) as part of its strategy to boost shareholder value.
The Board of Directors approved the buyback program, which will be executed in phases over the next 12 months.
Samsung Electronics will repurchase 3 trillion won in shares from November 18, 2024, to February 17, 2025, as the first phase of its new buyback plan.
The buyback includes 50.14 million common shares and 6.91 million preferred shares, all of which will be canceled to enhance shareholder value.
The remaining portion of the share buyback program will be executed in phases, with timing and methods determined by the Board of Directors.
Samsung Electronics posted a net income of $7.1 billion for the third quarter, with $2.8 billion in profit from its chip division, boosted by strong AI and data center demand. However, delays in NVIDIA&#8217;s AI chip certification allowed competitors SK Hynix and Micron to gain an edge in high-bandwidth memory sales. Mobile chip sales dipped due to inventory adjustments.
Image credits: Arcansel on Shutterstock
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41509305/nvidia-supplier-sk-hynix-reports-record-breaking-quarterly-profit-as-ai-demand-drives-7-revenue-" rel="noreferrer noopener">Nvidia Supplier SK Hynix Reports Record-Breaking Quarterly Profit As AI Demand Drives 7% Revenue Surge</a>

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Samsung Plans Massive $7.2B Stock Buyback: Details

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang has requested SK Hynix Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCF#OTC">HXSCF</a>) to expedite the supply of its next-generation high-bandwidth memory chips by six months.
What Happened: The request was made during a meeting between Huang and SK Group Chairman Chey Tae-won, reported Reuters on Monday. SK Hynix had previously announced its plan to provide the chips to clients in the second half of 2025, a timeline that was already ahead of the initial target.
The demand for high-capacity, energy-efficient chips for Nvidia&#8217;s graphic processing units, used in AI technology development, has been on the rise. Nvidia currently holds over 80% of the global AI chip market.
SK Hynix, a leading player in the global race to meet the surging demand for HBM chips, is facing intensified competition from companies like Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) and Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>). 
The company is also planning to supply the latest 12-layer HBM3E to an undisclosed customer this year and intends to ship samples of the more advanced 18-layer HBM3E early next year.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41678522/jim-cramer-warns-apple-stock-should-have-never-been-up-that-much-after-q3-earnings-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Warns Apple Stock Should Have &#8216;Never Been Up That Much&#8217; After Q3 Earnings Even As This Analyst Defends iPhone 16 Launch</a>
Why It Matters: The demand for AI technology has been a significant driver of growth for SK Hynix. The company reported a <a href="https://www.benzinga.com/markets/equities/24/10/41509305/nvidia-supplier-sk-hynix-reports-record-breaking-quarterly-profit-as-ai-demand-drives-7-revenue-">record-breaking quarterly profit</a> in October, with a 7% revenue surge, largely attributed to the rising demand for AI technology.
Despite <a href="https://www.benzinga.com/markets/asia/24/10/41645191/samsung-profits-soar-but-companys-nvidia-ai-chip-race-lag-allows-sk-hynix-micron-to-take-the-lead-in">Samsung&#8217;s soaring profits</a>, its delays in Nvidia&#8217;s certification for AI memory chips have allowed competitors like SK Hynix and Micron Technology to take the lead in high-bandwidth memory. 
SK Hynix&#8217;s <a href="https://www.benzinga.com/markets/asia/24/09/41038506/nvidia-supplier-sk-hynix-soars-9-as-mass-production-of-advanced-hbm3e-chips-begins-amid-burgeoning-a">commencement of mass production</a> of their latest high-bandwidth memory chips in September positioned the company ahead in the competitive race to meet the growing demand driven by artificial intelligence advancements.
SK Hynix <a href="https://www.benzinga.com/news/24/07/39984461/nvidia-supplier-sk-hynix-pledges-6-8b-for-new-chip-plant-in-south-korea">plans to invest $6.8 billion</a> in a new production facility in South Korea, as part of a larger commitment to invest 120 trillion won in the construction of four fabs in the Yongin cluster.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Nvidia's Need For Speed: Jensen Huang Pushes SK Hynix For Earlier Memory Chip Delivery

Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), South Korea's largest company, reported a net income of 9.78 trillion won ($7.1 billion) for the September quarter, with its chip division earning 3.86 trillion won ($2.8 billion) in operating profit.
Artificial intelligence and data center server demand remained strong, though mobile chip sales dipped due to inventory adjustments. 
Samsung&#8217;s delays in NVIDIA Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) certification for AI memory chips have allowed competitors SK Hynix (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCF#OTC">HXSCF</a>) and Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) to lead in <a href="https://www.benzinga.com/markets/equities/24/10/41220202/samsung-warns-of-q3-profit-drop-amid-shipment-delays-of-ai-chip-approved-by-nvidia">high-bandwidth memory</a>. 
SK Hynix recently posted a record 7.03 trillion won in profit, <a href="https://www.benzinga.com/markets/equities/24/10/41509305/nvidia-supplier-sk-hynix-reports-record-breaking-quarterly-profit-as-ai-demand-drives-7-revenue-">intensifying pressure on Samsung</a> in a rapidly evolving memory chip market.
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</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Asia

Samsung Profits Soar, But Company's Nvidia AI Chip Race Lag Allows SK Hynix, Micron To Take The Lead In High-Bandwidth Memory

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is working on developing a new smart home display inspired by the iMac G4&#8217;s design.
What Happened: In his latest &#8220;Power On&#8221; newsletter, Bloomberg columnist Mark Gurman said that Apple's upcoming smart home display could be smaller than expected.
As per Gurman, the device will feature a square display roughly the size of two iPhones side by side, mounted on a small base reminiscent of the iMac G4&#8217;s circular bottom.
The base could also have speakers, turning the device into a HomePod with a screen.&nbsp;
See Also: <a href="https://www.benzinga.com/news/24/10/41562593/apple-secures-victory-in-masimo-patent-dispute-with-token-damages-of-250">Apple Secures Victory In Masimo Patent Dispute With Token Damages Of $250</a>
Moreover, the device will reportedly run on a new system, incorporating iPad-like apps such as FaceTime, Notes, and Calendar.
Gurman said that Cupertino intends to launch this product next year.&nbsp;
A higher-end device with a larger screen and a robotic arm for control is also in the works. This premium product, likely priced around $1,000, is not expected to be available until 2026.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier in April, it was reported that the Tim Cook-led tech giant has <a href="https://www.benzinga.com/markets/equities/24/04/38134670/apple-robot-could-someday-make-it-to-consumers-living-rooms-says-gurman-as-cupertinos-wait-for-n">been exploring robotics</a>, with a table-top product that uses a robotic arm to move around a display.
At the time, the analyst said that Apple might be trying to figure out the next big thing after its powerhouse, the iPhone, started lacking in the <a href="https://www.benzinga.com/news/earnings/24/02/36900033/apple-q1-earnings-beat-estimates-as-cupertino-snaps-4-quarter-revenue-decline-streak-stock-slides-o">revenue department</a>.
Apple competes with companies like Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) in the smart home sector.
Meanwhile, in the same newsletter, the analyst also reported about Apple's plans to <a href="https://www.benzinga.com/news/24/10/41565581/mac-mini-may-shrink-to-apple-tv-size-as-cupertino-prepares-to-unveil-new-macs-this-week-expect-ai-an">integrate the M4 processor</a> into its Mac lineup to boost AI and gaming performance.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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</ul>
Photo courtesy: Shutterstock

AMZN

Apple Is Working On New Smart Home Display Inspired By iMac G4's Design, But It Could Be Smaller Than Expected

The past week has been a rollercoaster ride for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). From facing a U.S. probe that threatens its iPhone chips production to setting a new sales record for its iPhone, the tech giant has seen it all. Amidst these developments, Apple also found itself in the middle of a patent dispute and witnessed major streaming services moving away from its App Store. Here&#8217;s a recap of the major stories that unfolded over the week.
U.S. Probe Threatens Apple&#8217;s iPhone Chips Production
The U.S. Commerce Department has initiated an investigation into Taiwan Semiconductor Manufacturing Company Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), suspecting a potential breach of sanctions. The probe focuses on whether TSMC violated sanctions by supplying chips to Huawei Technologies via an intermediary firm. This investigation could potentially disrupt the production of chips for Apple&#8217;s iPhones and Macs.
<a href="https://www.benzinga.com/news/24/10/41415320/us-probe-into-potential-sanctions-breach-by-tsmc-threatens-apples-iphone-chips-production">Read the full article here.</a>
Disney and Hulu Bypass Apple&#8217;s App Store
The Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) has stopped allowing customers to subscribe to Hulu and Disney+ via Apple&#8217;s App Store, thereby avoiding the iPhone maker&#8217;s in-app purchase fees. The entertainment giant is now directing customers to its websites to view all plans and directly sign up for a subscription, bypassing the 15% to 30% fee that Apple imposes for each transaction made via in-app purchases.
<a href="https://www.benzinga.com/general/entertainment/24/10/41443702/disney-and-hulu-stream-away-from-apples-30-toll-bridge-what-it-means-for-the-iphone-maker">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/top-stories/24/10/41529265/apple-hints-at-major-mac-updates-with-rumored-m4-powered-lineup?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Hints At Major Mac Updates With Rumored M4-Powered Lineup</a>
Apple Intelligence Faces Skepticism
Apple&#8217;s much-anticipated new artificial intelligence system, Apple Intelligence, has been met with skepticism. Bloomberg columnist Mark Gurman expressed doubts about the system, suggesting that it may not meet high expectations and consumers might react disappointed or confused when the new AI feature is unveiled next week.
<a href="https://www.benzinga.com/news/24/10/41420086/apple-intelligences-meh-moment-ahead-analyst-predicts-5-months-of-build-up-could-lead-to-a-thats-it">Read the full article here.</a>
Record iPhone Sales in Q3
Apple has set a new sales record for its iPhone during the third quarter of 2024, coinciding with a broader recovery in the global smartphone market. According to Canalys, Apple&#8217;s iPhone sales were narrowly edged out by Samsung Electronics Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), with both tech giants capturing an 18% market share.
<a href="https://www.benzinga.com/markets/equities/24/10/41328252/apples-iphone-16-powers-record-sales-in-q3-just-behind-samsung-in-global-market-share-battle">Read the full article here.</a>
Apple Wins Patent Dispute Against Masimo
A Delaware jury has ruled in favor of Apple in a patent infringement case against Masimo Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>), awarding Cupertino a symbolic $250 in damages. The jury found that Masimo infringed on Apple's patents related to health technology in older smartwatch models that are no longer on the market.
<a href="https://www.benzinga.com/news/24/10/41562593/apple-secures-victory-in-masimo-patent-dispute-with-token-damages-of-250">Read the full article here.</a>
Read Next:
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Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

MASI

Apple's Week Of Peaks And Valleys: From Record iPhone Sales To Legal And Regulatory Challenges

Hundreds of engineers from&nbsp;Samsung Electronics Co Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>)&nbsp;are reportedly applying for a limited number of job openings at rival firm&nbsp;SK Hynix, amidst ongoing chip industry challenges.
What Happened: Around 200 Samsung employees have&nbsp;expressed interest in three job vacancies at SK Hynix, <a href="https://www.thelec.net/news/articleView.html?idxno=5004">reported</a> Korean media outlet&nbsp;The Elec, citing sources familiar with the matter.
These positions, targeted at experienced etching engineers, have seen an influx of applications from Samsung&#8217;s skilled fab engineers, a development that has caught the industry&#8217;s attention due to its unusual nature.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41422278/nvidias-new-free-open-source-ai-model-reportedly-outperforms-openais-gpt-4o-anthropics-claude-3-5-so?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s New Free, Open Source AI Model Reportedly Outperforms OpenAI&#8217;s GPT-4o, Anthropic&#8217;s Claude 3.5 Sonnet</a>
According to the report SK Hynix&#8217;s Junior Talent program, previously open to engineers&nbsp;with less than three years&nbsp;of experience,&nbsp;has expanded its criteria to&nbsp;include engineers with up to&nbsp;five years of experience.
This change has reportedly drawn Samsung engineers with limited experience. Following the program&#8217;s expansion, the number of Samsung applicants has significantly increased.
Samsung did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
Why It Matters: This unusual job shift comes at a time when Samsung is grappling with several challenges.
Earlier this month, Samsung cautioned that its third-quarter profit would fall short of market expectations and apologized for the underwhelming results.
The company has been trailing its competitors in providing advanced chips to Nvidia Corp. amid the rapidly growing AI sector.
In September it was reported that Samsung planned to cut its <a href="https://www.benzinga.com/news/24/09/40812318/samsung-to-reportedly-slash-global-workforce-by-up-to-30-in-certain-divisions-amid-intense-competiti">global workforce by up to 30%</a> in certain divisions due to intense competition.
Amid these challenges, Samsung is <a href="https://www.benzinga.com/news/24/10/41374294/apple-rival-samsung-to-unfold-special-edition-of-its-latest-flagship-foldable-phone">expected to launch its &#8220;Special Edition&#8221;</a> Galaxy Z Fold 6 on Oct. 25.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Samsung

Crisis At Samsung? Hundreds Of Engineers Reportedly Apply For 3 Jobs At Rival SK Hynix As World's Largest Smartphone Maker's Chip Troubles Mount

The European Union's NIS 2 cybersecurity directive, now enforceable, mandates companies to bolster their cybersecurity<a target="_blank" href="https://www.benzinga.com/news/24/10/41380184/as-apple-microsoft-battle-eu-regulations-this-new-cybersecurity-rule-can-cost-companies-up-to-10m-if" rel="noreferrer noopener"> practices or face hefty fines</a>.
Chinese researchers have successfully used&nbsp;D-Wave‘s quantum annealing systems to break classic encryption RSA, potentially accelerating the timeline for when quantum computers could pose a&nbsp;real threat to widely <a target="_blank" href="https://www.benzinga.com/news/24/10/41325429/chinese-researchers-use-quantum-computers-to-reportedly-crack-rsa-encryption-raising-alarms-in-cyber" rel="noreferrer noopener">used cryptographic systems</a>.
Republican presidential nominee&nbsp;Donald Trump's&nbsp;2024 campaign has decided not to advertise on&nbsp;Snap Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) Snapchat, a <a target="_blank" href="https://www.benzinga.com/news/24/10/41373962/trump-campaigns-snapchat-absence-potentially-gives-harris-edge-among-young-voters" rel="noreferrer noopener">platform favored by young voters</a>.
Amid growing concerns from the U.S. about the potential diversion of advanced chip technology to China, the UAE has assured its commitment <a target="_blank" href="https://www.benzinga.com/news/24/10/41350661/amid-fear-of-chinas-access-to-nvidia-amd-chips-through-middle-east-this-ceo-assures-uae-reliable-par" rel="noreferrer noopener">to safeguarding these technologies</a>.
The assurance comes as the Biden administration considers imposing restrictions on chip sales from NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) <a href="https://www.benzinga.com/news/24/10/41323155/nvidia-amd-face-chip-export-curbs-as-biden-administration-considers-restrictions-on-middle-east-coun">to the Middle East</a>.
Gaming
The latest figures from Circana reveal a dip in U.S. video game spending for August 2024, with total expenditure dropping 7% year-on-year to&nbsp;$4.1 billion. Hardware sales fell 36%,<a href="https://www.benzinga.com/general/gaming/24/10/41319267/us-gaming-market-sees-7-spending-decline-in-august-madden-nfl-25-debut-a-bright-spot" target="_blank" rel="noreferrer noopener"> driven by a 41% decline in Switch sales</a>.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) discontinued its $1 for 14 days Game Pass trial just before the launch of Call of Duty: Black Ops 6, which is set to release directly<a target="_blank" href="https://www.benzinga.com/general/gaming/24/10/41365519/microsoft-ends-1-game-pass-trial-ahead-of-call-of-duty-black-ops-6-launch" rel="noreferrer noopener"> on&nbsp;Game Pass next week</a>.
Microsoft settles the antitrust lawsuit over its $69 billion Activision Blizzard acquisition, with <a target="_blank" href="https://www.benzinga.com/general/gaming/24/10/41342256/microsoft-settles-antitrust-lawsuit-filed-by-gamers-over-activision-blizzard-acquisition" rel="noreferrer noopener">undisclosed terms and no refiling allowed</a>.
Microsoft is set to expand its cloud gaming capabilities by introducing support for player-owned Xbox games, a long-anticipated feature that will allow users to stream titles <a target="_blank" href="https://www.benzinga.com/general/gaming/24/10/41318405/microsoft-to-test-cloud-gaming-for-owned-xbox-games-in-november-report" rel="noreferrer noopener">from their&nbsp;personal game libraries</a>.
Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) will shut down Plants vs. Zombies 3 on November 15, 2024, halting downloads and in-app purchases in<a target="_blank" href="https://www.benzinga.com/general/gaming/24/10/41365831/plants-vs-zombies-3-servers-shut-down-as-ea-plans-major-overhaul" rel="noreferrer noopener"> preparation for a&nbsp;"major overhaul."</a>
Riot Games, the studio behind&nbsp;League of Legends, announced a series of layoffs affecting its League of Legends PC development team, <a target="_blank" href="https://www.benzinga.com/general/gaming/24/10/41367265/riot-games-lays-off-27-developers-as-part-of-league-of-legends-restructure" rel="noreferrer noopener">alongside plans for&nbsp;future expansion</a>.
Bandai Namco Holdings, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NCBDY#OTC">NCBDY</a>) faces workforce shifts and project cancellations despite the success of Dragon B<a target="_blank" href="https://www.benzinga.com/markets/asia/24/10/41344105/inside-bandai-namcos-workforce-struggles-100-staff-members-quit-during-project-overhauls" rel="noreferrer noopener">all Z: Sparking! Zero&#8217;s 3 million unit sales</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/10/41352155/elon-musk-applauds-spotify-after-streaming-giant-reveals-its-audiobook-catalog-has-doubled-" rel="noreferrer noopener">Elon Musk Applauds Spotify After Streaming Giant Reveals Its Audiobook Catalog Has Doubled To 300K Titles</a>
Smartphones
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reportedly had a secret partnership with Chinese electric vehicle manufacturer&nbsp;BYD Co Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) to create <a target="_blank" href="https://www.benzinga.com/news/24/10/41372383/apple-had-a-hush-hush-relationship-with-teslas-chinese-rival-byd-for-now-abandoned-car-plans-cuperti" rel="noreferrer noopener">long-range electric vehicle batteries</a>.
Apple is expanding its payment offerings within Apple Pay, providing users with more flexible online and&nbsp;in-app purchase options. The company is introducing installment loan features and increasing the <a target="_blank" href="https://www.benzinga.com/fintech/24/10/41385123/apple-pay-expands-buy-now-pay-later-with-affirm-adds-support-for-third-party-browsers-and-more" rel="noreferrer noopener">availability of rewards programs</a>.
Apple unveiled the&nbsp;upgraded version&nbsp;of its&nbsp;iPad Mini, marking the first significant upgrade to <a target="_blank" href="https://www.benzinga.com/news/24/10/41349691/apple-mini-gets-an-ai-upgrade-3-years-after-last-facelift-price-starts-at-499" rel="noreferrer noopener">the compact tablet since 2021</a>.
Apple has set a new sales record for its&nbsp;iPhone&nbsp;during the third quarter of 2024, coinciding with a broader <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41328252/apples-iphone-16-powers-record-sales-in-q3-just-behind-samsung-in-global-market-share-battle" rel="noreferrer noopener">recovery in the global smartphone market</a>.
Apple is reportedly ramping up its efforts to compete with&nbsp;Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>). The iPhone maker&#8217;s discounted version of the&nbsp;first-generation mixed-reality&nbsp;headset,&nbsp;Vision Pro, <a href="https://www.benzinga.com/news/24/10/41306527/apples-low-cost-vision-pro-could-hit-the-shelves-next-year-everything-you-need-to-know-about-iphone" target="_blank" rel="noreferrer noopener">could be ready by next year</a>.
Apple has terminated its self-driving vehicle testing permit in California. The decision follows the company's&nbsp;earlier<a target="_blank" href="https://www.benzinga.com/news/24/10/41309072/apple-poured-1b-a-year-into-its-car-project-before-abandoning-it-tim-cooks-company-now-pulls-plug-on" rel="noreferrer noopener"> abandonment&nbsp;of its electric vehicle project</a>.
Apple is reportedly experiencing a shortage in inventory&nbsp;for several of its products,&nbsp;leading to speculation about the <a target="_blank" href="https://www.benzinga.com/24/10/41322912/apple-to-launch-new-macbooks-pro-ipad-minis-and-imacs-analyst-says-inventory-dwindling-for-these-giz" rel="noreferrer noopener">imminent launch of new models</a>.
Samsung Electronics Co Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) is reportedly preparing to unveil its "Special Edition"&nbsp;Galaxy <a target="_blank" href="https://www.benzinga.com/news/24/10/41374294/apple-rival-samsung-to-unfold-special-edition-of-its-latest-flagship-foldable-phone" rel="noreferrer noopener">Z Fold 6&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/10/41374294/apple-rival-samsung-to-unfold-special-edition-of-its-latest-flagship-foldable-phone" rel="noreferrer noopener">as&nbsp;early as next week</a>.
Social Media, AI &amp; Technology
YouTube, a subsidiary of&nbsp;Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google, is extending its "Premium Lite" plan to additional countries, offering a more <a target="_blank" href="https://www.benzinga.com/news/24/10/41373073/youtubes-premium-lite-plan-that-removes-some-ads-but-doesnt-offer-any-other-perks-is-rolling-out-to" rel="noreferrer noopener">affordable subscription with fewer ads</a>.
YouTube&nbsp;has unveiled a significant update that introduces a range of new features designed to enhance the user experience and foster a stronger connection between <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/10/41350347/youtube-rolls-out-new-features-including-sleep-timer-collaborative-playlists-and-enhanced-m" rel="noreferrer noopener">creators and their audiences</a>.
Google&nbsp;has requested the 9th Circuit Court of Appeals to put a stop to the impending changes mandated by Judge&nbsp;James Donato's&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41375089/google-urges-9th-circuit-to-halt-dangerous-epic-ruling-cites-substantial-new-security-risks" rel="noreferrer noopener">ruling in the Epic v. Google case</a>.
Google&nbsp;has officially begun rolling out Android 15, the latest version of its&nbsp;mobile operating system, <a target="_blank" href="https://www.benzinga.com/news/24/10/41350862/google-rolls-out-android-15-with-theft-detection-lock-privacy-features-for-sensitive-apps-and-more" rel="noreferrer noopener">to Pixel devices today</a>.
Meta confirmed layoffs across multiple teams, including&nbsp;Instagram,&nbsp;<a href="https://www.benzinga.com/news/24/10/41375934/meta-confirms-layoffs-across-instagram-whatsapp-and-reality-labs-amid-strategic-reshuffle" target="_blank" rel="noreferrer noopener">WhatsApp</a><a href="https://www.benzinga.com/news/24/10/41375934/meta-confirms-layoffs-across-instagram-whatsapp-and-reality-labs-amid-strategic-reshuffle" target="_blank" rel="noreferrer noopener">, and&nbsp;</a><a href="https://www.benzinga.com/news/24/10/41375934/meta-confirms-layoffs-across-instagram-whatsapp-and-reality-labs-amid-strategic-reshuffle" target="_blank" rel="noreferrer noopener">Reality Labs</a>.
On Tuesday, U.S. District Judge&nbsp;Yvonne Gonzalez&nbsp;Rogers&nbsp;in California rejected Meta's attempt to dismiss the claims made&nbsp;in two separate <a href="https://www.benzinga.com/news/24/10/41349398/mark-zuckerbergs-meta-to-face-lawsuits-over-teen-social-media-addiction-judge-rejects-dismissal-moti" target="_blank" rel="noreferrer noopener">lawsuits filed&nbsp;last year</a>. The lawsuits involving over 30 states,&nbsp;including California, New York, and Florida, accuse Meta of contributing to mental health issues among teenagers by making its platforms addictive.
Taiwan Semiconductor Manufacturing Co. Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) reportedly started manufacturing A16 chips for&nbsp;Apple&nbsp;at its Phoenix, Arizona facility. This move is part of the U.S. strategy to<a target="_blank" href="https://www.benzinga.com/news/24/10/41356479/apple-spark-hope-for-americas-semiconductor-comeback-key-supplier-tsmc-reportedly-begins-producing-c" rel="noreferrer noopener"> enhance domestic semiconductor production</a>.
Sebastien Bubeck, the vice president of GenAI research at&nbsp;Microsoft is set t<a href="https://www.benzinga.com/news/24/10/41322687/sam-altman-led-openai-welcomes-microsofts-genai-research-vp-following-wave-of-executive-departures" target="_blank" rel="noreferrer noopener">o join&nbsp;</a><a href="https://www.benzinga.com/news/24/10/41322687/sam-altman-led-openai-welcomes-microsofts-genai-research-vp-following-wave-of-executive-departures" target="_blank" rel="noreferrer noopener">ChatGPT</a><a href="https://www.benzinga.com/news/24/10/41322687/sam-altman-led-openai-welcomes-microsofts-genai-research-vp-following-wave-of-executive-departures" target="_blank" rel="noreferrer noopener">-parent,&nbsp;</a><a href="https://www.benzinga.com/news/24/10/41322687/sam-altman-led-openai-welcomes-microsofts-genai-research-vp-following-wave-of-executive-departures" target="_blank" rel="noreferrer noopener">OpenAI</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41309060/nvidias-jensen-huang-says-chatgpt-led-to-awakening-of-ai-praises-sam-altmans-openai-as-one-of-most-c" rel="noreferrer noopener">Nvidia&#8217;s Jensen Huang Says ChatGPT Led To &#8216;Awakening Of AI,&#8217; Praises Sam Altman&#8217;s OpenAI As One Of Most Consequential Companies Of Our Time</a>

BYDDY

NCBDY

SNAP

Consumer Tech News (Oct 14-18): Biden Administration Considers Imposing Restrictions On Chip Sales, Apple Inks Secret Deal With BYD & More

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The three major stock indices extended their winning streak to six consecutive weeks, marking the longest stretch of gains for both the Dow Jones and S&amp;P 500 this year. The Dow rose 0.96%, the S&amp;P 500 increased by 0.85%, and the Nasdaq advanced 0.80%.
Retail sales in September exceeded expectations, and a significant drop in jobless claims added to the view that the U.S. economy is still robust. This strong economic momentum has led some analysts to reassess the Federal Reserve&#8217;s future course of action, with many now questioning the likelihood of additional interest rate cuts.
However, rising Treasury yields have impacted the housing market, causing a sharp increase in mortgage rates and a corresponding drop in mortgage applications. Homebuyer demand experienced its steepest decline since April 2020, as potential buyers pulled back due <a href="https://www.benzinga.com/markets/asia/24/10/41411026/bank-earnings-propel-wall-street-to-record-peaks-oil-plunges-below-70-gold-shines-at-all-time-highs">to the higher borrowing costs.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/markets/equities/24/10/41328252/apples-iphone-16-powers-record-sales-in-q3-just-behind-samsung-in-global-market-share-battle">Apple&#8217;s iPhone 16 Powers Record Sales In Q3, Just Behind Samsung In Global Market Share Battle</a>,&#8221; by <a href="https://www.benzinga.com/author/rounak-jain">Rounak Jain</a>, reports that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) achieved record iPhone sales in Q3 2024, securing 18% global market share, just behind Samsung Electronics Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), as the global smartphone market grows by 5% year-over-year.
&#8220;<a href="https://www.benzinga.com/news/24/10/41321236/sam-altmans-oklo-jumps-on-google-nuclear-deal-whats-going-on">Sam Altman&#8217;s Oklo Jumps On Google Nuclear Deal: What&#8217;s Going On?</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports on Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) shares rising after Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) announced plans to use nuclear energy, with speculation that Sam Altman&#8216;s connections may position Oklo for future deals with tech giants.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41374086/dogecoin-shiba-inu-pepe-may-have-overtaken-these-nasdaq-listed-companies-toward-billion-do">Dogecoin, Shiba Inu, Pepe May Have Overtaken These Nasdaq-Listed Companies Toward Billion-Dollar Valuations, But There&#8217;s A Catch</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, reports on how meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), and Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) reached billion-dollar valuations faster than traditional companies like Nutanix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) and Nice Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NICE#NASDAQ">NICE</a>).
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41406623/netflix-should-continue-to-outperform-6-analysts-on-streaming-stocks-q3-earnings">Netflix &#8216;Should Continue To Outperform&#8217;: 6 Analysts On Streaming Stock&#8217;s Q3 Earnings</a>
<a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41342499/unlikely-s-p-500-stock-leaves-nvidia-behind-with-241-gain-in-2024">Unlikely S&amp;P 500 Stock Leaves Nvidia Behind With 241% Gain In 2024</a>
<a href="https://www.benzinga.com/markets/equities/24/10/41364980/russell-2000-poised-for-major-technical-breakout-analyst-eyes-a-trend-reversal-in-favor-of-small">Russell 2000 Poised For Major Technical Breakout: Analyst Eyes &#8216;A Trend Reversal In Favor Of Small Caps Outperforming&#8217; S&amp;P 500</a>
The Bears
&#8220;<a href="https://www.benzinga.com/general/biotech/24/10/41381861/moderna-hit-with-another-lawsuit-related-to-key-covid-19-vaccine-technology">Moderna Hit With Another Lawsuit Related To Key COVID-19 Vaccine Technology</a>,&#8221; by <a href="https://www.benzinga.com/author/vandana-singh">Vandana Singh</a>, reports that Northwestern University has sued Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) for allegedly using its lipid nanoparticle technology in COVID-19 vaccines like Spikevax without permission, seeking damages for patent infringement.
&#8220;<a href="https://www.benzinga.com/news/24/10/41385546/ftc-click-to-cancel-rule-makes-it-easy-to-end-subscriptions-what-it-means-for-netflix-planet-fitness">FTC &#8216;Click-To-Cancel&#8217; Rule Makes It Easy To End Subscriptions: What It Means For Netflix, Planet Fitness And More</a>,&#8221; by <a href="https://www.benzinga.com/author/erica-kollmann">Erica Kollmann</a>, reports that the Federal Trade Commission&#8217;s new rule aims to simplify canceling subscriptions, impacting companies like Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Planet Fitness Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) by requiring them to make a cancellation as easy as signing up.
&#8220;<a href="https://www.benzinga.com/news/24/10/41393244/tesla-has-a-new-chinese-electric-vehicle-competitor-how-a-company-that-used-to-sell-cheap-tvs-is-ent">Tesla Has A New Chinese Electric Vehicle Competitor: How A Company That Used To Sell Cheap TVs Is Entering EV Race</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reports that Chinese company Skywell, known for selling affordable Skyworth TVs, unveiled the Q hatchback EV at the Paris Auto Show, marking its entry into the EV space and potentially challenging Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with competitively priced models.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/news/24/10/41354045/as-boeing-workers-enter-second-month-of-strike-rival-airbus-reportedly-plans-to-cut-2-500-jobs">As Boeing Workers Enter Second Month Of Strike, Rival Airbus Reportedly Plans To Cut 2,500 Jobs</a>
<a href="https://www.benzinga.com/news/24/10/41375934/meta-confirms-layoffs-across-instagram-whatsapp-and-reality-labs-amid-strategic-reshuffle">Meta Confirms Layoffs Across Instagram, WhatsApp And Reality Labs Amid Strategic Reshuffle</a>
<a href="https://www.benzinga.com/news/24/10/41375886/warren-buffetts-stock-sales-point-to-overvalued-market-says-hedge-fund-manager-david-einhorn-not-a-g">Warren Buffett&#8217;s Stock Sales Point To Overvalued Market, Says Hedge Fund Manager David Einhorn: &#8216;Not A Great Time To Have A Lot Of Equity Exposure&#8217;</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
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Benzinga Bulls And Bears: Apple, Tesla, Netflix, Oklo — And Dogecoin, Meme Coins Outpace Corporate Giants

South Korean tech behemoth Samsung Electronics Co Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) is reportedly preparing to unveil its &#8220;Special Edition&#8221; Galaxy Z Fold 6 as early as next week.
What Happened: The much-awaited &#8220;Special Edition&#8221; Galaxy Z Fold 6, which has been a topic of discussion for a while, was initially expected to hit the market in late September.
However, the speculated date came and went without any official confirmation, but now the launch is set for Oct. 25, <a href="https://9to5google.com/2024/10/16/samsung-galaxy-z-fold-6-special-edition-release-date-report/">reported</a> 9to5Google, citing a Korean publication, Financial News.
Last month, leaked images of the device unveiled a new camera module design and a &#8220;brushed&#8221; effect on the back. The device could also feature a sleek 10.6 mm profile and larger 6.5-inch and 8-inch displays,
See Also: <a href="https://www.benzinga.com/news/24/10/41307824/nvidia-ceo-jensen-huang-praises-elon-musk-for-achieving-something-with-xai-in-19-days-that-usually-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Praises Elon Musk For Achieving Something With xAI In 19 Days That Usually Takes At Least A Year</a>
However, the &#8216;Special Edition&#8217; Galaxy Z Fold 6 is primarily expected to be available in China, with limited availability in other markets, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This launch comes at a time when Samsung is facing stiff competition in the global smartphone market. Previously, it was reported that <a href="https://www.benzinga.com/markets/equities/24/10/41328252/apples-iphone-16-powers-record-sales-in-q3-just-behind-samsung-in-global-market-share-battle">Samsung&#8217;s market share dipped</a> by 3% compared to last year, while Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) saw a 1% increase.
A study has also revealed that Apple&#8217;s iPhone users tend to <a href="https://www.benzinga.com/news/24/10/41158721/better-quality-or-higher-loyalty-apples-iphone-users-retain-their-devices-longer-than-those-buying-g">retain their smartphones longer</a> than Android users, indicating a higher brand loyalty.
This new launch could be Samsung&#8217;s strategy to regain its market share and compete with Apple&#8217;s growing dominance.
Last month, Qualcomm Inc. began preparing for the repercussions of losing a considerable share of its revenue from Apple. However, JPMorgan analyst Samik Chatterjee remained optimistic about the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40898388/qualcomm-analyst-sees-opportunity-in-regaining-share-with-samsung-after-apple-reven">company&#8217;s prospects in other markets</a>, particularly with Samsung.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41306527/apples-low-cost-vision-pro-could-hit-the-shelves-next-year-everything-you-need-to-know-about-iphone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Low-Cost Vision Pro Could Hit The Shelves Next Year — Everything You Need To Know About iPhone Maker&#8217;s Plan To Challenge Meta</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Rounak Jain

Apple Rival Samsung To Unfold 'Special Edition' Of Its Latest Flagship Foldable Phone

ERIC

INDA

Nokia In Exclusive Talks With India's Bharti Airtel For Multi-Billion Dollar 5G Contract; Airtel Also In Discussions With Samsung For 5G Equipment Purchase, Sources Say

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has set a new sales record for its <a href="https://www.benzinga.com/topic/iphone">iPhone</a> during the third quarter of 2024, coinciding with a broader recovery in the global smartphone market.
What Happened: According <a href="https://www.canalys.com/newsroom/global-smartphone-market-Q3-2024">to</a> Canalys, Apple&#8217;s iPhone sales were narrowly edged out by Samsung Electronics Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), with both tech giants capturing an 18% market share.
Notably, Samsung&#8217;s share dipped by 3% compared to the previous year, while Apple saw a 1% increase.
Samsung launched its latest smartphones in July, while <a href="https://www.benzinga.com/news/24/09/40780100/apple-intelligence-ready-iphone-16-with-faster-processor-dedicated-camera-button-announced-check-pri">Apple&#8217;s iPhone 16 series</a> hit the market on Sept. 9, just weeks before the quarter ended. Despite the limited time, Apple&#8217;s sales performance was robust, likely benefiting from the timing.
See Also: <a href="https://www.benzinga.com/news/24/10/41309072/apple-poured-1b-a-year-into-its-car-project-before-abandoning-it-tim-cooks-company-now-pulls-plug-on">Apple Poured $1B A Year Into Its Car Project Before Abandoning It. Tim Cook&#8217;s Company Now Pulls Plug On Autonomous Vehicle Testing Permit In California</a>
Analysts attribute Apple&#8217;s success in Q3 to the sustained demand for the iPhone 15 series and older models. Canalys anticipates that the iPhone 16 series will further enhance Apple&#8217;s performance into 2025, supported by Apple Intelligence.
Overall, the global smartphone market experienced a 5% year-over-year growth in Q3 2024, marking the fourth consecutive quarter of expansion, according to Canalys.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The strong performance of Apple&#8217;s iPhone 16 series comes amid mixed signals from analysts. On September 22, Wedbush analyst Dan Ives <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40971882/as-apples-iphone-16-goes-on-sale-analyst-says-demand-off-to-strong-start-keeping-cu">highlighted a promising start</a> for the iPhone 16, predicting an upgrade cycle of over 90 million units, an increase from the iPhone 15.
However, Barclays analyst Tim Long <a href="https://www.benzinga.com/news/24/10/41127362/apples-iphone-16-cycle-faces-headwinds-analyst-warns-of-weaker-demand-macro-pressures-potential-earl">warned of potential headwinds</a>, citing weaker demand and macroeconomic pressures. He noted possible early production cuts, with Apple potentially reducing key semiconductor components by 3 million units for the December quarter.
Despite these challenges, KeyBanc analyst Brandon Nispel <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41236938/apple-iphone-16-pro-boosts-sales-but-base-models-lag-analyst-says">observed that demand</a> for the iPhone 16 Pro and Max models remained healthy, driven by camera upgrades.
However, base models lagged behind expectations. As Apple navigates these dynamics, its ability to maintain momentum will be crucial in sustaining its market position.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/news/24/10/41301420/end-of-an-era-apples-16-year-old-accessory-is-out-of-stock-worldwide?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">End Of An Era? Apple&#8217;s 16-Year-Old Accessory Is Out Of Stock Worldwide</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Apple

Apple's iPhone 16 Powers Record Sales In Q3, Just Behind Samsung In Global Market Share Battle

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly planning to launch a health-focused smart ring by 2026, according to a forecast by analysts at CCS Insight.
What Happened: CCS Insight&#8217;s annual forecast suggests that Apple&#8217;s smart ring, similar to smartwatches, would be equipped with sensors to monitor health metrics such as heart rate, <a href="https://www.cnbc.com/2024/10/08/apple-could-launch-a-ring-to-rival-samsung-in-2026-ccs-insight.html?taid=6704b64625d3d900011c5504&amp;utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=twitter%7Cmain">reported</a> CNBC.
Ben Wood, chief analyst at CCS Insight, highlighted Apple&#8217;s commitment to health and wellness, stating that a smart ring would be a logical extension of the company&#8217;s product line.
Despite the challenges of retailing rings due to varying finger sizes, Wood believes Apple&#8217;s extensive retail network could facilitate the sale of such a product.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41197666/new-display-tech-for-iphone-17-air-apples-legal-woes-and-lifesaving-features-this-week-in-appleverse?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">New Display Tech For iPhone 17 Air, Apple&#8217;s Legal Woes, And Lifesaving Features: This Week In Appleverse</a>
&#8220;Health has become a fundamental pillar for Apple. In fact, I would go so far as to say, at the point that Tim Cook decides to relinquish control and he retires,&#8221; he said on Tuesday, adding, &#8220;I would like to think that one of his major legacies from Apple would be around personal health,&#8221; according to the report.
Wood highlighted Apple's commitment to health-focused technology citing the sensor-rich Apple Watch and latest AirPods Pro 2, which can function as hearing aids.
Like smartwatches, smart rings are equipped with sensors to monitor health metrics such as heart rate.
&#8220;I think a beautifully designed ring from Apple could be one of those things that's almost a sort of status symbol,&#8221; he said, according to the report.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Apple&#8217;s potential entry into the smart ring market isn&#8217;t entirely surprising. In March earlier this year,&nbsp;<a href="https://www.benzinga.com/news/24/03/37951833/apples-new-patent-hints-at-a-smart-ring-that-can-play-rock-paper-scissors">Apple filed a patent</a>&nbsp;for a smart ring capable of detecting gestures, including those used in the game &#8220;Rock, Paper, Scissors.&#8221;
This latest development comes in the wake of Samsung Electronics Co&nbsp;Ltd&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) <a href="https://www.benzinga.com/news/24/07/39716525/samsung-takes-on-apple-with-new-galaxy-ring-and-watch-ultra">launch of the</a> Galaxy Ring earlier this year.
Priced at $399, the Samsung Galaxy Ring tracks fitness, sleep, and women's menstrual cycles, and lasts up to a week on a single charge.
The Galaxy Ring, offered in nine different sizes, comes with fitting kits and stands out from the more affordable Oura ring by not requiring a subscription.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/news/24/10/41197944/nvidias-blackwell-gpu-musks-openai-accusations-teslas-robotaxi-event-and-more-this-week-in-ai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s Blackwell GPU, Musk&#8217;s OpenAI Accusations, Tesla&#8217;s Robotaxi Event, And More: This Week In AI</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Apple

Analyst Color

Apple's Smart Ring Could Launch By 2026 In Line With Tim Cook's Health-Centric Vision, Says Analyst: 'One Of His Major Legacies From Apple Would Be Around Personal Health'

Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) has issued a warning, predicting a significant drop in third-quarter profits, due to various factors including one-time costs and a <a href="https://www.benzinga.com/news/24/09/40812318/samsung-to-reportedly-slash-global-workforce-by-up-to-30-in-certain-divisions-amid-intense-competiti">surge in supply from Chinese rivals</a>.
What Happened: On Tuesday, the South Korean tech giant announced an estimated operating profit of approximately 9.10 trillion won ($7.6 billion) for the quarter ending in September. This represents a 274% increase from the previous year&#8217;s 2.43 trillion won.
The company&#8217;s memory business has been impacted by &#8220;one-time costs and negative effects,&#8221; which include inventory adjustments by mobile customers and an increase in the supply of legacy products by Chinese memory companies, Samsung stated.
See Also: <a href="https://www.benzinga.com/news/24/10/41201646/mark-cuban-now-supporting-donald-trump-billionaire-investor-who-endorses-kamala-harris-for-2024-elec?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Now Supporting Donald Trump? Billionaire Investor Who Endorses Kamala Harris For 2024 Election Posts Cryptic Throwback Picture With Ex-President</a>
These memory chips are used in devices such as laptops and servers, and Samsung is the leading manufacturer of these chips. The company is also the world&#8217;s second-largest player in the smartphone market.
Furthermore, the company reported that shipments of HBM3E chips to major customers were delayed. In August, it was reported that Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/news/24/08/40227015/nvidia-greenlights-samsungs-fifth-gen-hbm3e-chips-for-ai-processors-report">successfully tested and approved</a> Samsung Electronics' fifth-generation high bandwidth memory chips, known as HBM3E, for use in its artificial intelligence processors.
Price Action: Following the release of the earnings guidance, Samsung&#8217;s share price, which has already fallen by more than 24.12% year-to-date, dropped by an additional 0.7%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Samsung Warns Of Q3 Profit Drop Amid Shipment Delays Of AI Chip Approved By Nvidia

<a href="https://www.reuters.com/technology/samsung-electronics-says-it-is-not-interested-spinning-off-foundry-business-2024-10-07/" title="https://www.reuters.com/technology/samsung-electronics-says-it-is-not-interested-spinning-off-foundry-business-2024-10-07/">https://www.reuters.com/technology/samsung-electronics-says-it-is-not-interested-spinning-off-foundry-business-2024-10-07/</a>

Reuters Reported Samsung Electronics Said It's Not Interested In Spinning Off Foundry Business

In a significant move for the semiconductor industry, President Joe Biden has enacted legislation that exempts certain U.S. chip manufacturing facilities from federal environmental reviews. 
What Happened: This new law, affects projects benefiting from government subsidies under the $52.7 billion CHIPS Act of 2022. The legislation aims to prevent potential delays that could arise from additional federal environmental reviews mandated by the National Environmental Policy Act of 1969, Reuters reported. 
Proponents argue that these projects have already complied with existing federal, state, and local environmental regulations.
The U.S. Commerce Department has allocated over $35 billion for 26 projects, including substantial grants to companies like Samsung Electronics Co Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), and Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), to boost domestic chip production.
While the White House maintains its commitment to environmental standards, groups such as the Sierra Club emphasize the importance of reviews for community and worker safety. 
The bipartisan legislation, co-authored by Senators Sen. Mark Kelly (D-Ariz.) and Sen.&nbsp;Ted Cruz&nbsp;(R-Texas), seeks to enhance U.S. semiconductor manufacturing by avoiding unnecessary delays.
See Also: <a href="https://www.benzinga.com/news/24/09/41020589/tech-youtuber-mkbhd-responds-after-facing-massive-backlash-over-his-new-12-a-month-wallpaper-app?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tech YouTuber MKBHD Responds After Facing Massive Backlash Over His New $12 A Month Wallpaper App</a>
Why It Matters: The semiconductor industry is at the forefront of technological advancements, and the demand for chips has surged due to the rise of artificial intelligence and other tech innovations. 
Recent <a href="https://www.benzinga.com/government/24/10/41127863/despite-nvidia-selloff-bidens-law-and-taiwan-semis-advantage-offer-growth-potential">market trends show that semiconductor stocks</a>, including those of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Micron Technology, have experienced fluctuations amid broader economic factors.
Moreover, the tech industry&#8217;s push towards AI has raised <a href="https://www.benzinga.com/news/24/05/38979360/microsofts-ai-push-puts-its-carbon-neutral-goal-at-risk-says-president-brad-smith">concerns about environmental sustainability</a>. Companies like Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) have faced challenges in balancing AI advancements with carbon-neutral goals.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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