Previous Close | 84,000.00 |
Open | 82,600.00 |
Bid | 0.00 x 0 |
Ask | 0.00 x 0 |
Day's Range | 82,200.00 - 83,200.00 |
52 Week Range | 42,300.00 - 96,800.00 |
Volume | 23,242,952 |
Avg. Volume | 29,415,423 |
Market Cap | 551.563T |
Beta (5Y Monthly) | 0.91 |
PE Ratio (TTM) | N/A |
EPS (TTM) | N/A |
Earnings Date | Apr 27, 2021 - May 03, 2021 |
Forward Dividend & Yield | 7,728.00 (9.20%) |
Ex-Dividend Date | Dec 29, 2020 |
1y Target Est | 54,903.00 |
(Bloomberg) -- Nintendo Co. plans to unveil a model of its Switch gaming console equipped with a bigger Samsung OLED display this year, hoping the larger touchscreen can prop up demand in time for the holidays, people familiar with the plan said.Samsung Display Co. will start mass production of 7-inch, 720p-resolution OLED panels as early as June with an initial monthly target of just under a million units, said the people, who asked not to be identified discussing internal matters. The displays are slated for shipment to assemblers around July, the people said. Representatives for Nintendo and Samsung Display declined to comment.Nintendo seeks to sustain a Switch lineup that continues to sell well against the Xbox and PlayStation, thanks to pandemic-era breakout hits like Animal Crossing and a chip crunch that’s plagued supply of rival devices. But the gadget is now into its fifth year, while Microsoft Corp. and Sony Corp. both have new and more powerful machines in the market.The gaming community has speculated online about the introduction of an OLED or organic light-emitting diode screen, but Nintendo has stayed mum and President Shuntaro Furukawa said in February his company has no plans to announce a new Switch “anytime soon.” Samsung’s involvement is the strongest indication that Nintendo is serious about updating the console, and on a large scale.Shares of the Kyoto-based games maker fell 3.6% in Tokyo on Thursday amid a wider market selloff.What Bloomberg Intelligence says“The release of a more premium version of Nintendo’s Switch console with an OLED display and support for 4K graphics for the holiday 2021 selling season could drive the company’s sales above consensus for the fiscal year ending March 2022 and extend the life cycle of the Switch platform for many more years.”- Matthew Kanterman and Nathan Naidu, analystsIn February, Nintendo raised its annual forecasts after the Switch helped the company to its best quarterly earnings since 2008. The games maker hopes to sustain that run in 2021 despite stiffening competition and an ebbing pandemic.Read more: Nintendo Raises Outlook After Surpassing High Expectations“The OLED panel will consume less battery, offer higher contrast and possibly faster response time when compared to the Switch’s current liquid-crystal display,” said Yoshio Tamura, co-founder of display consultancy DSCC.Nintendo decided to go with rigid OLED panels for the new model, the people said, a cheaper but less flexible alternative to the type commonly used for high-end smartphones. The latest model will also come with 4K ultra-high definition graphics when paired with TVs, they said. That could intensify a longstanding complaint of developers, who have struggled with the difference in resolution between handheld and TV modes and now face a bigger gap between the two.The deal benefits Samsung Display because market prices for so-called rigid OLED panels have been falling due to excess supply. Winning a customer like Nintendo also helps the Korean giant -- an affiliate of Samsung Electronics Co. -- firm up production plans. Nintendo in turn secures a valuable partner and supplier at a time semiconductor shortages are squeezing the supply of display-related components.The new display’s resolution mirrors the current Switch and Switch Lite but is an upgrade from the Switch’s 6.2-inch and Lite’s 5.5-inch size. If the console’s housing remains unchanged, the new Switch is likely to sport a thinner bezel.(Updates with share price and analyst comment)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Micron Technology Inc., the largest U.S. maker of memory chips, raised its forecast for revenue and earnings in the current quarter helped by demand for memory chips used in phones and computers.Revenue in the current period will be $6.2 billion to $6.25 billion, Micron said Wednesday in a statement. That’s up from a previous range of as much as $6 billion. The Boise, Idaho-based company forecast profit, excluding certain items, of 93 cents to 98 cents, up from a prior range of 68 cents to 82 cents.Micron’s memory chips are used to help processing and store data in everything from smartphones to super computers. It competes with South Korea’s Samsung Electronics Co. and SK Hynix Inc. in a market in which chips are largely interchangeable and priced like commodities.Tightness in the supply of dynamic random access memory chips, or DRAM, coupled with strong demand means that the industry will likely fail to fill all orders for the rest of the 2021, Chief Financial Officer Dave Zinsner said at a Morgan Stanley conference. The market for Nand flash memory, which provides storage, may suffer from a surfeit of chips as new supply comes on line this year, he cautioned.In its most recent financial year, DRAM provided about 68% of Micron’s sales with most of the balance coming from Nand revenue.Micron will provide more details during its next earnings announcement, Zinsner said. The company’s fiscal second quarter ends Thursday.Micron shares, which jumped as much as 2.5% on the announcement, gave back most of those gains, and was little changed at $91.05 at 12:48 p.m. in New York.(Updates with comments from CFO in the fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Samsung Electronics Co Ltd (OTC: SSNLF) has considered two sites in Arizona and one in New York, each apart from Austin, Texas, for a new chip plant worth $17 billion, Reuters reports. The company raised tax reduction demands from $805.5 million to $1.48 billion over 20 years from Travis County and Austin. The U.S. had assured federal incentives for Samsung’s plant in New York to drive their local chip production. Taiwan Semiconductor Manufacturing (NYSE: TSM) and Samsung gained prominence as the major U.S. semiconductor companies started outsourcing their chip production to them in a bid to become fabless. Things got further intensified by the trade war with China and the pandemic as companies began reducing their dependence on China. Last but not least is the ongoing chip crisis. The top chip companies, including automakers, sought the U.S. government’s assistance to resolve the semiconductor chip crisis. President Joe Biden recently pushed for billion In Congressional funding to tackle the ongoing chip crisis. Samsung has been offered property tax abatement and tax credits to fund infrastructure improvements in Arizona and New York. The new plant is estimated to manufacture cutting-edge logic devices for Samsung’s chip contract manufacturing business, creating 1,800 jobs. Samsung is reportedly exploring multiple expansionary possibilities. TSM also disclosed plans for its Arizona chip plant worth $12 billion slated to come online by 2024. Samsung’s chip plant in Austin is estimated to resume production within a couple of weeks following a shutdown due to a winter storm last month. Samsung, NXP Semiconductors NV (NASDAQ: NXPI), and Infineon Technologies AG (OTC: IFNNF) had to shut down their factories in Texas last month following the winter storm that claimed at least 21 lives and left millions of Texans without power. Image Courtesy: Wikimedia See more from BenzingaClick here for options trades from BenzingaIndia Lures Computer Producers From China With B Incentive: WSJBiden Set To Sign Executive Order To Address Chip Shortages, Supply-Chain Crisis: WSJ© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.