Samsung profits likely at two-year high [Video]

Electronics giant Samsung announced Thursday its third-quarter profit has likely jumped to its highest in two years, beating analysts’ already-high expectations.

The South Korean tech company said operating profit was likely more than 10 billion dollars for the three months ending in September.

Analysts had predicted a surge in profits thanks to recovery of smartphone sales and a rush order of chips from Huawei.

Samsung’s smartphone shipments jumped to around 80 million from just 54.2 million in the previous quarter.

Analysts attribute that to a rebound in demand after the contraction brought about by the health crisis in the first half of 2020.

While weaker prices pressured Samsung’s overall chip business, they also saw a boost in orders for graphics and mobile chips, including from Chinese smartphone maker Huawei.

Industry sources say Huawei had been building stockpiles before U.S. restrictions imposed around mid-September prevented it from buying chips made with

Read More

Smartphone Tracking Data And Artificial Intelligence Turn People’s Movements Into Detailed Insights And Profits

Not all businesses experienced a setback due to COVID-19. Cosmose AI, a company that uses machine learning to predict who will go shopping as well as when and where, plus measures the effectiveness of online ads to online and in-person store visits, expanded during the pandemic. Valued at $100 million after a Series A investment round by Tiga Investments, OTB Ventures, and TDJ Pitango, many retailers turned to the insights provided by Cosmose AI’s artificial intelligence-powered service to figure out how to best operate during the pandemic and prepare for a new future.

Insights for Retailers from Cosmose AI’s AI-Powered Platform

Founded in 2014, Cosmose AI gathers anonymized mobile phone data including user IDs, location info, and more from more than 1 billion smartphones, more than 400,000 apps, 360,000 stores and then

Read More

MORGAN STANLEY: Buy these 16 stocks to cheaply invest in next-generation technologies and reap the future profits they generate

  • Morgan Stanley says new technologies are feeding into a surge in productivity that will help the economy for years.
  • Strategist Adam Virgadamo says the pandemic will speed up that change, and investors don’t have to buy tech stocks to reap the rewards. 
  • He’s compiled a list of innovators that have been outperforming and look like they will continue to do based on their strategies and investments in their businesses.
  • Visit Business Insider’s homepage for more stories.

New technology has permeated so many industries and transformed business. But when investors want long-term growth, they’re mostly buying the same mega-cap tech stocks.

That’s stayed true even as some experts have warned about the sky-high prices of those same stocks, raising the spectre of the dot-com bubble 20 years ago and the dominance of a handful of giant stocks that hit record levels.

Whether there’s a bubble or not, Adam Virgadamo, a

Read More

CIA’s new tech recruiting pitch: More patents, more profits

America’s most famous spy agency has a major competitor it can’t quite seem to beat: Silicon Valley.

The CIA has long been a place cutting-edge technology is researched, developed, and realized—and it wants to lead in fields like artificial intelligence and biotechnology. However, recruiting and retaining the talent capable of building these tools is a challenge on many levels, especially since a spy agency can’t match Silicon Valley salaries, reputations, and patents.

The agency’s solution is CIA Labs, a new skunkworks that will attempt to recruit and retain technical talent by offering incentives to those who work there. Under the new initiative, announced today, CIA officers will be able for the first time to publicly file patents on the intellectual property they work on—and collect a portion of the the profits. The agency will take the rest of the balance. Dawn Meyerriecks, who heads the agency’s science and technology directorate,

Read More