• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy SoftBank Stock Reports $1.87B Profit Boosted by AI
Economy

SoftBank Stock Reports $1.87B Profit Boosted by AI

by November 12, 2024
by November 12, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

SoftBank Group should report a quarterly profit of around 287 billion yen ($1.87 billion), marking a significant rebound from its 931 billion yen loss during the same period last year. Favorable portfolio company listings and the strengthening yen against the dollar have largely driven this turnaround, boosting SoftBank’s stock price.

MST analyst David Gibson forecasts a $3.9 billion rise in investment profit for the quarter. Significant income came from the IPOs of two Indian companies: Brainbees Solutions, contributing around $0.9 billion, and Ola Electric, adding approximately $1 billion.

SoftBank’s AI Ambitions and Rising Investments Signal Bold New Moves

The market is eager to see if SoftBank, led by visionary CEO Masayoshi Son, will sustain its investment momentum, especially in artificial intelligence (AI). Son, who spoke about reserving tens of billions of dollars for significant future investments, recently increased SoftBank’s investment pace to $1.9 billion in the April-June quarter. This marks a considerable rise from $0.3 billion in the first quarter of 2023.

A particularly intriguing development is SoftBank’s exploration into AI chip production, potentially positioning itself as a competitor to Nvidia. This could involve leveraging its 90% stake in the chip designer Arm, possibly through a partnership with recently acquired chip manufacturer Graphcore.

In a recent quarter, SoftBank made an Arm licensing deal worth $43.2 million. This move could support its broader AI ambitions. Analysts are closely monitoring these strategies. They could reshape SoftBank’s portfolio and influence the AI market.

SoftBank Stock Chart Analysis

SFTBY/USD 15-Minute Chart

Looking at Softbank Group Corp (SFTBY) stock on this 15-minute chart, we can observe the unfolding of some exciting dynamics. The stock is currently at $30.37, which is, in fact, a small increase of 0.10%.

A strong resistance at $31.70 has prevented further upward movement, while the nearest support is around $28.51. The stock’s slow movement suggests it is in a consolidation phase. Investors should prepare for either a breakout or a breakdown.

The RSI indicator stands at 46, indicating neutral momentum. We’re not quite in the oversold territory, which would suggest a buying opportunity, nor in the overbought range that might signal a sell. When the RSI dips below 30, it indicates a potential buying opportunity. Conversely, when the RSI moves above 70, it suggests the stock might be overextended.

In the short term, if there is a breakout above $31, this might bring out a bullish feeling with the targets being higher. On the other hand, if the stock dips below $28.51, the downtrend could still be unchecked.

We will want to check the volume to verify either a breakout or a breakdown as the strong volume would increase the confidence to move. Maybe it’s time to watch SFTBY very closely to determine whether the price will go up or down.

The post SoftBank Stock Reports $1.87B Profit Boosted by AI appeared first on FinanceBrokerage.

You Might Also Like
  • Nikki Haley doubles down on promise to send special ops to ‘eliminate’ drug cartels across US-Mexico border
  • Israel-Hamas war: Biden to visit Israel on Wednesday in show of support
  • Nebraska Legislature’s debate on youth sex change ban gets heated
  • MA launches ‘green bank dedicated to affordable housing’ in effort to address climate change, housing market
Share
0
FacebookTwitterPinterestWhatsapp

previous post
MUST SEE Updates to RRG Charts on StockCharts!
next post
Tesla Stock Hits $1T Market Cap as Musk Backs Trump Return

You may also like

Wisconsin judge weighing case over incomplete addresses on ballots

January 25, 2023

North Dakota bill letting teachers ignore pronouns becomes law

May 9, 2023

Trump camp says Harris-Walz ‘dangerously liberal’ ticket is ‘every American’s...

August 6, 2024

No longer ‘any dispute’ Biden ‘lied’ about never talking business...

September 29, 2023

Ex-DHS agent who inspired ‘Sound of Freedom’ ‘seriously considering’ run...

September 16, 2023

Trump says classified document folders were ‘cool’ keepsake

January 18, 2023

Fetterman blasts South Africa ‘genocide’ case against Israel amid unrest,...

January 12, 2024

Showdown likely between House and Senate as congress remains divided...

November 2, 2023

Rep Pramila Jayapal appears to label Hamas attack on Israel...

October 12, 2023

Top Democratic super PAC launches massive $50M ad spend for...

July 27, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Confused by the Market? Let the Traffic Light Indicator Guide You

      May 9, 2025
    • Which Will Hit First: SPX 6100 or SPX 5100?

      May 9, 2025
    • The V Reversal is Impressive, but is it Enough?

      May 9, 2025
    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,321 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,533)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Confused by the Market? Let the Traffic Light Indicator Guide...

      May 9, 2025
    • Which Will Hit First: SPX 6100 or SPX 5100?

      May 9, 2025
    • The V Reversal is Impressive, but is it Enough?

      May 9, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,533)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Poland sees massive nationalist march honoring...

    November 13, 2023

    Washington governor signs bill eliminating death...

    April 22, 2023

    Democrats not ready to ditch Biden...

    August 1, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here