>> GOOD MORNING. THIS IS "HORIZONS MIDDLE EAST & AFRICA." ASIAN STOCKS RISE AFTER WEAK U.S. RETAIL SALES AND FORCED BETS ON A FED RATE CUT LATER THIS YEAR. TRADERS ARE WATCHING FOR PAYROLL VISIONS LATER TODAY.ISRAELI PRIME MINISTER AT NETANYAHU SET TO MEET THE U.S. PRESIDENT IN WASHINGTON LATER TODAY AS DONALD TRUMP SAYS IRAN IS KEEN ON A DEAL. PLUS WE SPEAK TO THE CEO OF AIR ASIA AS THE CARRIER LOOKS TO EXPAND ITS GLOBAL FOOTPRINT. IT'S JUST GONNA 9:00 A.M. ACROSS THE EMIRATES. I'M JOUMANNA BERCETCHE BACK ...

>> LIVE FROM LONDON, THIS IS BLOOMBERG "DAYBREAK: EUROPE." ASIAN STOCKS TOOK HISTORIC HIGHS AFTER WEAK US RETAIL SALES. TRADERS CLOSELY WATCHING FOR PAYROLLS DUE LATER. LAWMAKERS MAY PUSH TO APPROVING THE U.S. TRADE DEAL WITH THE PAUSE ON PRESIDENT TRUMP'S RING AND THREAT.WE WILL HAVE INTERVIEWS WITH THE GERMAN LENDER CEO LATER THIS HOUR. A VERY GOOD MORNING, WELCOME TO WEDNESDAY WHICH WEIRDLY IS JOBS DAY. WE ALREADY GOT THOSE UNEXPECTEDLY WEAK RETAIL SALES NUMBERS YESTERDAY.I WILL SHOW YOU THE IMPACT ON TR ...

THIS IS INSIGHT WHERE WE DIVE DEEPER INTO THE STORIES THAT MATTER WITH CRUCIAL CONTEXT AND ANALYSIS. RISING FEARS ABOUT ARTIFICIAL INTELLIGENCE COMING SHARES OF COMPANIES THAT COULD BE CAUGHT ON THE WRONG SIDE OF RAPID TECHNOLOGICAL CHANGE. THE LATEST SECTOR FACING DISRUPTION IS WEALTH MANAGEMENT FOLLOWING IN THE FOOTSTEPS OF SOFTWARE MAKERS AND FINANCIAL ANALYSTS.WILL ASK IF THE AI PEERS ARE OVERDONE OR A TASTE OF THINGS TO COME. VICKI CHI JOINS US WITH HER VIEWS ON A HIGHLY MOMENTUM DRIVEN ROCKET. ROBINHO ...

Samsung to hold its Galaxy S26 event on February 25 https://t.co/qiUrWhf0bj ...

Core Insights - Samsung is set to unveil its Galaxy 26 series smartphones at the Galaxy Unpacked event on February 25 in San Francisco, emphasizing AI features for enhanced user interaction [1] - A notable feature of the Galaxy S26 Ultra will be a privacy display that allows users to conceal specific areas of the screen to protect sensitive information [1] Group 1: Product Features - The Galaxy S26 will be equipped with a 5,100 mAh battery, supporting 60W wired charging and 25W wireless charging [3] - The top model in the Galaxy 26 lineup will utilize Qualcomm's Snapdragon Elite Gen 5 processor in the U.S. and China, while other regions will likely see the Exynos 2600 processor [2] - Samsung is expected to release updated Galaxy Buds 4 wireless earbuds alongside the new smartphones, featuring a redesigned look [3] Group 2: Event Details - The Galaxy Unpacked event will commence at 10 AM PT/1 PM ET/7 PM CET and will be streamed live on Samsung's website and YouTube channel [4] Group 3: Promotional Offers - Samsung is offering a $30 promotional credit for consumers who pre-register interest in the upcoming devices, which can be used towards other products, and a $150 credit for those who pre-order [6]

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the **Global I/O Hardware** industry, particularly the **memory market** and its implications for **hyperscale capital expenditures (capex)** and **hardware margins** due to rising demand from AI applications and server requirements [2][8]. Core Insights and Arguments 1. **Memory Pricing Forecasts**: - UBS forecasts a **289% increase** in DRAM pricing per Gb from 2025 to 2027, surpassing the previous cycle's 89% rise [2][13]. - NAND pricing is expected to rise **144%**, exceeding the 92% rebound seen in 2024 [2][13]. 2. **Hyperscale Capex Growth**: - Hyperscale capex is projected to reach **US$827 billion** in 2026 and **US$915 billion** in 2027, reflecting increases of **43%** and **28%** respectively [3][27]. - Memory costs are estimated to add approximately **US$100 billion** annually to hyperscale capex, increasing from **US$53 billion** in 2025 to **US$155 billion** in 2026 and **US$252 billion** in 2027 [3][25]. 3. **Impact on PC and Smartphone Markets**: - PC unit forecasts for 2026 have been revised down from **267 million** to **255 million**, indicating a **4% decline** year-over-year [4]. - Smartphone unit sell-in estimates have also been reduced from **1.28 billion** to **1.20 billion**, reflecting a **5% decline** in 2026 [4]. 4. **Brand and ODM Margin Pressures**: - The rising memory costs are squeezing margins for brands and ODMs, with DRAM now accounting for **18%** of PC BOM costs and potentially **24%** for high-end smartphones by H226 [4][9]. - ODMs are forced to pass through memory costs, which boosts sales but does not enhance gross or operating profits, leading to lower margins [4][9]. 5. **Investment Preferences**: - Analysts recommend favoring AI hardware and components over traditional PC and branded companies due to the higher memory costs impacting margins [5]. Additional Important Insights 1. **Server Demand and Memory Costs**: - The demand for AI and traditional servers is strong, with server unit forecasts for 2025-26 revised up from **+6%** to **+13%** year-over-year [2][14]. - A typical data center server's memory cost is expected to rise from **46%** to **67%** of total server costs due to increased memory pricing [15]. 2. **Long-term Memory Cycle**: - The memory pricing cycle is described as the strongest in decades, with expectations of sustained under-supply into 2027 [10][13]. 3. **Capex and Cash Flow Dynamics**: - The capital intensity for internet companies is projected to rise from **10%** of capex/sales pre-AI to approximately **35%** in 2026, with a significant portion of capex financed through operating cash flow [28]. 4. **Future Outlook**: - The aggressive push for compute resources to meet growing cloud workloads and AI demands is expected to continue, although future growth rates may slow as spending becomes increasingly financed by debt and equity [28]. This summary encapsulates the critical insights and projections discussed during the conference call, highlighting the significant impact of memory pricing on the hardware industry and the strategic shifts in investment focus towards AI-related technologies.

Four of OpenAI’s six big deal announcements this year were followed by a total combined net gain of $1.7trn among the 49 big companies in Bloomberg’s broad AI index plus Intel, Samsung and SoftBank. However, the gains for most concealed losses for some https://t.co/wpbZ0sQo0l ...

Core Viewpoint - Micron Technology has significantly benefited from the AI boom, with its stock price increasing over 300% due to a generational shortage of memory chips driven by high demand for high-bandwidth memory (HBM) chips used in AI applications [1][2]. Financial Performance - Analysts project that Micron's revenue will double to $75.4 billion for fiscal 2026, with adjusted earnings per share expected to quadruple to $33.38, resulting in a forward P/E ratio of 12 [2]. - Micron is estimated to achieve a net income of approximately $35 billion for the current fiscal year, with profits expected to continue rising at least through 2027 [8]. Market Dynamics - The memory subsector is experiencing a supercycle, which has also positively impacted other memory companies like SK Hynix, Samsung, and Sandisk [4]. - Memory chips are subject to boom-and-bust cycles, with prices fluctuating based on demand and inventory levels, leading to intense capital costs in the semiconductor industry [5]. Historical Context - Micron has experienced multiple cycles over the past decade, with net losses reaching nearly $8 billion during the post-pandemic downturn [6]. - Historical memory cycles for Micron have been relatively short, with trough-to-peak or peak-to-trough periods lasting just a couple of years [9]. Stock Performance - Historically, Micron's stock has gained about 600% from trough to peak during its cycles over the last 20 years [13]. - The most recent cycle shows a significant gain of 840% so far, exceeding typical trough-to-peak gains [14]. Unique Current Conditions - The current memory boom is characterized by unprecedented capital expenditures from major tech companies, with over $600 billion planned for AI infrastructure, indicating sustained demand for memory [15]. - The ongoing shortage of memory chips is expected to impact the smartphone industry significantly, with new capacity taking time to come online [16]. Future Outlook - While the memory cycle will eventually peak, it may take years, and Micron is positioned as a strong investment opportunity in the AI boom, with potential for the stock to double before reaching its peak [17].

Samsung is back at the top of the memory industry with its new HBM4 technology, President and chip division Chief Technology Officer Jaihyuk Song said on Wednesday, erasing a drop in the company’s shares https://t.co/8CQn6mpYTv ...

Samsung will unveil its Galaxy S26 smartphone lineup on Feb. 25, hoping that a growing list of AI features can help sell the devices in lieu of fresh hardware designs https://t.co/Oj5SrcWQF5 ...