Samsung earnings soar on smartphone sales rebound, US sanctions on Huawei

Samsung predicts its profit jumped nearly 60% last quarter, suggesting it could soon retake its position as the world’s top smartphone seller from embattled Chinese rival Huawei.



a person standing in front of a mirror: A man wearing a protective mask walks past an advertisement for the Samsung Electronics Co. Galaxy Z Fold2 5G and Z Flip 5G smartphones at the company's D'light flagship store in Seoul, South Korea, on Tuesday, Oct. 6, 2020. Photographer: SeongJoon Cho/Bloomberg via Getty Images


© Cho/Bloomberg via Getty Images
A man wearing a protective mask walks past an advertisement for the Samsung Electronics Co. Galaxy Z Fold2 5G and Z Flip 5G smartphones at the company’s D’light flagship store in Seoul, South Korea, on Tuesday, Oct. 6, 2020. Photographer: SeongJoon Cho/Bloomberg via Getty Images

The South Korean conglomerate said on Thursday that it expects to make an operating profit of roughly 12.3 trillion won ($10.6 billion) for the July-September quarter. That’s up 58% from the same period a year ago. The estimates also beat the 26% profit bump analysts polled by data provider Refinitiv had predicted.

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Samsung said it expects sales for the third quarter will rise about 6% to 66 trillion won ($57 billion).

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Tech stocks can soar another 25% during ‘next chapter’ of economic recovery, Wedbush analyst says

A view outside Nasdaq in Times Square during the Coronavirus pandemic on March 31, 2020 in New York City.


  • Tech stocks rallied through the first phase of recovery, and the second bout of improvement is only just beginning, Wedbush analyst Dan Ives said Friday.
  • A steady economic bounce-back through 2021 will improve the sector’s fundamentals and growth paths, the analyst said, particularly for firms well-positioned for nationwide reopening.
  • This “next chapter” can drive tech stocks another 20% to 25% higher, according to Wedbush.
  • Pandemic-driven growth themes around the tech sector “are unprecedented and not comparable to anything I have seen as a tech analyst on the Street for two decades,” Ives added.
  • Visit the Business Insider homepage for more stories.

After tech stocks led indexes to record highs and faced outsized selling, the sector is poised for another blockbuster rally, according to Wedbush analyst Dan Ives.

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US stocks climb as mega-cap tech companies soar on stimulus hope


  • US stocks climbed on Thursday on continued fiscal stimulus negotiations, led by mega-cap tech giants like Alphabet, Amazon, and Microsoft.
  • House Speak Nancy Pelosi and Treasury Secretary Steve Mnuchin had multiple conversations on Thursday, as the two try to work out a fiscal stimulus deal before the upcoming recess in Congress.
  • Any fiscal stimulus deal will include another round of direct stimulus checks, according to Mnuchin.
  • Initial weekly jobless claims fell to 837,000, which was lower than expected and suggested that the economic recovery is trudging along.
  • Watch major indexes update live here.

US stocks climbed on Thursday, led by mega-cap tech giants like Alphabet, Microsoft, Apple, and Amazon.

Stocks were boosted by continued hope of another round of fiscal stimulus being passed by Congress ahead of their upcoming recess. House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin had multiple conversations throughout the day.

Any fiscal

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Ashley Madison: Extramarital affairs soar in pandemic with technology’s help

Shortly after the lockdown began, the Ashley Madison “married dating” site saw an uptick in members, as people started having affairs during the pandemic. Today, more than 21,000 people are signing up each day for the online membership service, up from 17,000 a day in March. That’s on top of a worldwide base that had 65 million members around the world in 2019.

Lockdown has not put an end to affairs because of modern technology. Though some cheating has gone virtual, many married daters are still meeting their affair partner in person. Ninety percent of the site’s members have affairs on their smartphones, even though 29% of spouses know each other’s passwords, said Tammy Nelson, a sex and relationship therapist who has studied the results.

“We’re in such unprecedented catastrophic times,” Nelson said. “It’s so apocalyptic that you have got to have something to look forward to.”

However, those having

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Enterprise Adoption And Financing Soar

Following its public offering last Friday, Unity (NYSE: U) now has market cap over $24 B. The tech stock boom, which include mobile gaming, where Unity supplies the building blocks for developers, could not have come at a better time. Competitor Epic Games’ $18 B private financing probably puts its stock, if offered, at over $40 B.

The fog of the war has shrouded a confusing and unsettled Tik Tok sale. Tik Tok is not banned, for now, but another reckoning will come next week. Tik Tok’s lawsuit against the US government is still pending. The Chinese government can still block the deal. And the president* is demanding the parties fund a conservative American history curriculum for public schools from the deal’s proceeds. Which is probably not legal. Meanwhile, TikTok downloads are skyrocketing, although many Tik Tok stars have begun beefing up their presence on other platforms, just in

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Cloud Gaming Revenues to Soar to $12B by 2025 | Gaming

By John P. Mello Jr.

Sep 22, 2020 5:15 AM PT

According to gaming experts, 2021 is shaping up to be a big year for cloud gaming.

“We are expecting a big jump in revenue from 2020 to 2021,” observed George Jijiashvili, a senior analyst with Omdia and author of a report on cloud gaming released last week.

“We think consumer use of cloud gaming will reach US$4 billion, which is a growth rate of 188 percent, a massive jump from 2020,” he told TechNewsWorld.

His report also predicted cloud gaming revenues would reach $12 billion by 2025.

A proliferation of cloud gaming services will be launched in 2021, which should brighten the sector’s revenue picture.

“There are currently 25 cloud gaming services currently in beta globally,” noted Piers Harding-Rolls, a games industry analyst with Ampere Analysis.

“Some of those will commercially launch in 2021 and drive awareness, adoption and

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