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Morgan Stanley Says US Growth Slowdown Worse Than Expected



Samsung Q2 solid on server-chip demand, smartphones cloud outlook

Samsung Electronics Co Ltd is likely to turn in its best April-June profit since 2018 with a 15% year-on-year rise, as lingering demand for its memory chips from server customers offsets lower sales to inflation-hit smartphone makers. On the overall outlook for global memory chip demand, Park Sung-soon, analyst at CAPE Investment & Securities, said U.S. data centre firms such as Amazon, Microsoft, Alphabet’s Google and Meta are expected to continue buying “to meet expanding demand for cloud services”. Still, chipmakers worldwide are facing cooling demand after two bumper pandemic years when people bought phones and laptops to work remotely, which resulted in a chip shortage and forced companies including automakers to pay top dollar for key chips, pushing their prices up.

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