Apple is expected to launch this fall what analysts have called the biggest software upgrade for the iPhone. It includes AI features and comes at a time when rivals such as Samsung have been quicker to roll out similar services.

Apple increased revenue

Apple said revenue in its fiscal fourth quarter would grow at a level similar to the 4.9% increase it posted in the April-June period, which was better than analysts’ estimates.

Improved Apple iPhone sales

Apple iPhone sales have also improved in the Q3, falling just 0.9% compared with the 2.2% drop analysts expected.

As per CFO Luca Maestri the iPhone results were better than he had expected three months ago. “The iPhone 15 family has been doing well from the very beginning and still now – we have three quarters of the year behind us. It is performing better than the previous cycle, the iPhone 14.”

Apple’s biggest worry China market

China which is Apple’s third-largest market remained a drag as sales there declined 6.5%. While that was an improvement from the 8.1% decline in the previous quarter, it was wider than expectations for a drop of 2.4%, according to Visible Alpha.

Maestri said China sales fell less than 3%, excluding the effects of foreign exchange and added that he feels good about Apple’s performance in that country, given any softness in its economy.

Why the fall of iPhone in China?

There are much cheaper alternative smartphones offered by local competitors such as Huawei (HWT.UL).  Apple has taken to discounting its iPhones in China to compete with theM. The company in May offered discounts of up to 2,300 yuan ($317) on selected models.

A turnaround with Apple Intelligence

Analysts expect a strong upgrade cycle for the iPhone 16 series, likely to be launched in September. The company unveiled a raft of AI products and services it calls Apple Intelligence at its developer conference in June.

To operate Apple Intelligence requires at least an iPhone 15 Pro, which may push consumers to upgrade their devices.

Apple’s AI features have arrived later than offerings by rivals including Samsung Electronics, which has introduced competing devices aimed at hosting AI chatbots. Microsoft and Alphabet’s Google are placing huge bets on AI as well.

Apple sales more upbeat in service sector

Sales in Apple’s services segment, which includes the App Store and represents Apple Music and TV products, rose 14.1% to $24.21 billion, above analyst expectations of $24.01 billion, according to LSEG data.

Mac sales grew 2.5% to $7.01 billion, compared with estimates of $7.02 billion, according to LSEG data.

Apple’s sales in the iPad segment increased by 23.7% to $7.16 billion, above analyst expectations of $6.61 billion. This was after Apple launched a new AI-focused iPad Pro and a larger iPad Air in May.

The wearables segment, which represents sales of Apple Watches and AirPods headphones, sales fell 2.3% to $8.10 billion, compared with analyst estimates of $7.79 billion, according to LSEG data.

Apple stock update

Shares of Apple rose nearly 1% in extended trading, outperforming other tech stocks that were broadly lower. Apple maintained its dividend at 25 cents. In the fiscal Q2, Apple announced a $110 billion stock buyback. Apple stock rallied after the firm outlined its goals and teased upcoming features during its annual WWDC conference. In contrast, Wall Street responded poorly to Google’s vague commentary on how it will justify the tens-of-billions it’s sinking into AI.

The post Apple Revenue Growth Marred by Decline in China Market appeared first on Industry Leaders Magazine.

The bank posted pretax profit in the six months to June of $21.56 billion, down from $21.66 billion in the same period of last year.

HSBC’s earnings results

The first-half figure of pretax profit came in well above the $20.5 billion average of broker estimates compiled by HSBC, as per reports.

“We are growing and investing in our international retail and wealth business to sit alongside this, which is helping to diversify revenue,” HSBC’s outgoing CEO Noel Quinn said Wednesday.

“Each of these strengths contributed to a good revenue performance in the first half of 2024, supported by higher interest rates.”

The new return target and earnings that beat market expectations should give investors confidence, Jefferies analyst Joe Dickerson added.

HSBC’s revenue

HSBC’s revenue was up 1.1% year-on-year to $37.3 billion, in a performance HSBC attributed to the “impact of higher consumer activity in our Wealth products in Wealth and Personal Banking (‘WPB’), and in Equities and Securities Financing in Global Banking and Markets (‘GBM’).”

The lender’s wealth revenue picked up by 12% to $4.3 billion in the first six months to June, with noted growth in investment distribution, asset management and life insurance.

The bank outlined its priorities of diversifying its revenues and maintaining a firm foothold in what it described as its “critical” home markets of Hong Kong and the U.K. — it noted 345,000 new-to-bank customers opening accounts in the former region in the first half of the year, with international customers up 8% to 2.7 million in Britain over the same period.

HSBC approved dividend

The bank also approved a second interim dividend of $0.10 per share and announced a share buyback of up to $3 billion, which it said it expects to complete within three months.

“That takes our total distribution to shareholders in 18 months to over $34 billion,” HSBC’s Quinn told CNBC Wednesday. “And I think the standout performance is, I think, our ability to continue to grow revenue from alternative sources other than interest income.”

HSBC’s new goals

Europe’s biggest bank also set out a new goal for its return on average tangible equity – a key performance target – to be in the mid-teens in 2025, matching its estimate for 2024.

As HSBC is due to welcome new CEO Georges Elhedery in September following the retirement of Noel Quinn, said it had succeeded in reducing its sensitivity to rate cuts through an insurance strategy known as a structural hedge.

HSBC return on equity

HSBC’s CET1 capital ratio picked up to 15.0%, up by 0.2 percentage points compared with the Q4 of last year and above the lender’s guidance of its medium-term target range of 14% to 14.5% for the metric.

The bank also declared a return on average tangible equity excluding notable items of 17.0% over January-June, down from 18.5% in the same period of last year. HSBC provided new guidance of “mid-teens return on average tangible equity in 2025,” in line with its 2024 outlook.

“The strong performance of the business gives us the confidence to say that we’ll be mid-teens return in 2025 as well,” said Quinn. Addressing the broader outlook, he touched on the bank’s performance in the U.K., saying, “I think there are some encouraging signs in there for future economic growth, and there’s certainly a strong resilient economy at the moment.”

Stock update

HSBC share price which is London-listed picked up 3.12% at 08:42 a.m. London time, just after local markets opened, while Hong Kong-listed HSBC share price were up roughly 4.4%. This is as investors cheered its stable first-half profit growth, gains in wealth management income and narrowing losses in Chinese real estate.

The post HSBC Reports Robust H1 Profit, Launches $3B Share Buyback Program appeared first on Industry Leaders Magazine.

The photo-sharing platform on Tuesday projected current-quarter revenue below analysts’ estimates, as it struggles to keep up with bigger rivals including Meta’s Instagram and Facebook and Alphabet.

The digital advertising market is bouncing back from a slump seen in 2022 and early 2023, but pockets of weakness are eating into Pinterest’s growth. The company, shed about $3 billion in shares due to competition.

Pinterest earnings report

Here’s how the company performed, according to LSEG:

 Pinterest revenue: $854 million vs. $848 million expected

Pinterest earnings per share: 29 cents adjusted vs. 28 cents expected

The revenue pf Pinterest jumped 21% year over year, while quarterly net income was $9 million, or 1 cent per share, compared to a net loss of $35 million, or 5 cents per share, in the year-earlier period when total costs and expenses were $781 million.

Pinterest forecast

Pinterest said that it expects its Q3 sales to range from $885 million to $900 million, which equates to about 16% to 18% growth year over year.

Analysts were projecting revenue guidance of about $907 million.

“Our monetization efforts are paying off,” Pinterest CEO Bill Ready said in a statement. “Advertisers are seeing improved performance across key objectives on Pinterest — from brand awareness to conversion — as we continue to roll out AI powered products and experiences. As a result, we’re gaining share of advertising budgets with some of the world’s largest brands.”

Pinterest said that it had 522 million global monthly active users (MAU) for the Q2, topping analyst estimates of 520.1 million. Regarding the regional breakdown of Pinterest’s global MAU, the company said that the U.S./Canada had 98 million, Europe had 136 million and the rest of the world totaled 288 million. Analysts were expecting Pinterest to report 98.4 million for U.S./Canada, 136.8 million for Europe and 284.6 million for the rest of the world.

Weak demand

California-based Pinterest flagged material weakness in demand from advertisers in the consumer goods space. Particularly food and beverage companies, which offset strength in ad spend in the technology and financial services sectors.

“The optics of a lighter (third quarter) guide will not help recently growing ad fears, and some will be concerned that food & beverage pressure — which has been isolated — could spread to other verticals with a potentially softer consumer,” J.P. Morgan analyst Doug Anmuth said.

Pinterest could take yet another hit from the lack of political ads on its platform, unlike Meta and Alphabet which are set to benefit from political advertising ahead of the U.S. elections. RBC analysts noted it could be a “few hundred” basis points of a headwind.

Trouble for smaller ad players

Pinterest’s outlook could spell trouble for other smaller ad players such as Snapchat owner Snap and ad tech firm Trade Desk, analysts said, noting 18% of the gross spend at Trade Desk last year came from food and beverage firms.

“Slowing in ad spend and shifts toward promotions or discounts from (food and beverage) companies could cause some weakness in the digital ad markets…Ad platforms with fewer advertisers, more branded exposure are more at risk. Snap seems most at risk,” said Morgan Stanley’s Brian Nowak.

Stock update

Shares of Snap and Trade Desk were each up nearly 1% on Wednesday after dipping about 2% premarket. Pinterest looked set to lose about $2.5 billion in market value, with at least 13 brokerages cutting their price targets. Pinterest share price was down to $31.95 a fall of 14.46%.

The post Pinterest Stock Drops 15% as Q3 Forecast Falls Short Amid Ad Challenges appeared first on Industry Leaders Magazine.

Starbucks’ Siren System plan

Starbucks this year rolled out its Siren System plan, which included updating its equipment to increase the pace of service at its stores, as the company turns to discounts and promotions to appeal to cost-conscious consumers.

The system was deployed across its U.S. company operated stores in the reported quarter, and Starbucks plans to have the equipment, such as a refit to its espresso machines, in less than 10% of its global stores by the end of year.

“We are focused on what we can control in a consumer environment that can be best described as complex,” CEO Laxman Narasimhan said on a post-earnings call.

Starbucks’ revenue

Starbucks’ operating margin fell 70 basis points in the third quarter, a sequentially smaller drop. Profit of 93 cents per share was in line with LSEG estimates.

“Quite possibly, investors are viewing this as not as bad as was feared potentially. We’re kind of impressed that they were able to open 526 new stores in the quarter,” said Greg Halter, director of research at Carnegie Investment Counsel.

Starbucks’ coming up with deals

U.S. fast-food chains have rolled out limited deals and offers to bring back to stores thrifty consumers increasingly looking to cook at home in the face of sticky inflation.

Known for its pricey lattes, Starbucks spent the summer offering uncharacteristic deals including bundled menus such as a coffee or tea paired with a butter croissant for $5 in June, as well as 50% off deals on Fridays in May.

Starbucks weak in China

In China, the company grappled with weak consumer spending and stiff competition from local coffee chains such as Luckin’ Coffee in a weak macroeconomic environment.

Still, same-store sales tumbled 14% in China, following an 11% drop in the second quarter. Sales in international markets also missed expectations, echoing results from McDonald’s and Domino’s.

Starbucks global sales down

Starbucks continued to face weakness in the Middle East, South Asia and some parts of Europe as a result of boycotts related to the war in Gaza.

The Seattle-based company reaffirmed its global and U.S. comparable sales in range of a low single-digit decline to flat, and annual profit in the range of flat to low-single digits.

The coffee chain also confirmed on a post-earnings call that Elliott Investment Management was a shareholder and talks with the activist investor had been “constructive”.

Stock update

Starbucks share price was down 22% this year. Though Starbucks shares were up 5% in extended trading after executives reaffirmed its annual forecasts. Starbucks’s share price closed at $75.93. It is up 3.86% in the last 3 months and down -25.24% in the last 12 months.

The post Starbucks Q3 Earnings Meet Expectations Despite Global Sales Decline appeared first on Industry Leaders Magazine.

Samsung flags strong AI demand as profits soar on higher chip prices. “In the second half of 2024, AI servers are expected to take up a larger portion of the (memory) market as major cloud service providers and enterprises expand their AI investments,” Samsung said in a statement.

Samsung’s earnings result

Here are Samsung’s second-quarter results versus analysts’ average estimates according to LSEG.

Samsung revenue: 74.07 trillion Korean won (about $53.45 billion) vs. 73.74 trillion Korean won

Samsung operating profit: 10.44 trillion Korean won vs 9.53 trillion Korean won

The Samsung’s revenue for the quarter ended June jumped 23.42% from a year earlier, while operating profit soared 1,458.2%.

Samsung’s server AI demand

Rebounding semiconductor prices stoked by the AI boom lifted June quarter earnings for the world’s biggest maker of memory chips, smartphones and TVs from a low base a year ago.

The South Korean giant said robust demand for high-bandwidth as well as conventional memory, such as regular dynamic random access memory, from customers expanding AI investments contributed to the strong performance.

For the second half, Samsung said it expects the demand from server AI to stay strong across server products including HBM, server DRAM and SSD. SDD, or solid-state drive, refers to a semiconductor-based storage device.

Samsung expands sales

The firm added that expanding capacity to meet demand for HBM and server DRAM could further constrain supply of conventional memory chips.

During its earnings call, the firm said it plans to address the AI demand by expanding sales of HBM3E the latest AI memory product through capacity expansion in the second half.

It will also expand sales of SSDs which are currently in high demand for AI servers as well.

Memory chip rebound helped Samsung

HBM memory chips are crucial for AI chips, which have seen a huge demand enabled by the AI boom. This has largely benefited firms like Samsung Electronics and SK Hynix, tow of the top memory chipmakers in the world.

Business for Samsung rebounded as memory chip prices recovered on AI optimism last year. The South Korean electronics giant saw record losses in 2023 as the industry reeled from a post-Covid slump in demand for memory chips and electronics.

Samsung reportedly has cleared the tests for the use of its HBM3 chips in Nvidia processors for the Chinese market. SK Hynix has so far led the HBM memory chip market, having been the sole supplier of HBM3 chips to Nvidia.

Decline in smartphone sales

Samsung smartphone sales declined in the Q2 largely because of the “base effect of launches of new models” in the Q1. However, the Galaxy S24 series continued to see strong demand, Samsung said.

Profitability in the smartphone business also dropped as prices of key components rose.

The firm plans to continue pushing its premium Galaxy AI products. In its latest move, Samsung announced last week global availability for its newest Galaxy devices including Galaxy Z Fold6, Z Flip6, Watch Ultra and Ring.

Samsung stock update

The firm also said it would pay out a dividend of 361 won per common and preferred share for the Q2.

“According to our current dividend policy, the total amount distributed per quarter amounts to approximately 2.45 trillion won, which will be paid near the end of August.”

Samsung’s share price rose 0.9% in morning trade versus a 0.5% rise in the benchmark index.

The post Samsung Reports 15-Fold Rise in Q2 Profits as AI Chip Demand Soars appeared first on Industry Leaders Magazine.

After a challenging Q2, McDonald’s executives told restaurant operators and analysts they are refocusing on how to recapture consumers with deals as they pushed for an extension of the its $5 value meal platform.

McDonald’s quarterly sales drop

Persistent inflation has forced lower-income consumers to shift to more affordable food options at home. That has led fast food chains such as McDonald’s, Burger King, Wendy’s and Taco Bell to lean on value meals to spark customer traffic.

McDonald’s share price, which are down 15% this year, rose nearly 4% after company executives said the $5 meal deal launched late in June sold above expectations. They said the company was working with franchisees in a bid to extend it beyond August.

McDonald’s global results

McDonald’s, which stuck to its 2024 forecast for operating margin of mid-to-high 40% range, said it would be more selective with price increases to protect profitability.

“Even though things (traffic) are soft now, they should be getting better in the back half of the year … with better value on the menu,” said Brian Mulberry, client portfolio manager at Zacks Investment Management.

Global comparable sales fell 1% in the Q2, compared with expectations of a 0.5% increase. Overall revenue rose 1%.

CEO Chris Kempczinski said there is a lot more deal-thinking from consumers who have become “very discriminating”. “Consumer sentiment in most of our major markets remains low,” he said.

Fewer people eating out

McDonald’s results dovetail with comments last week from Coca-Cola CEO James Quincey, who said there had been “some softness in away-from-home channels” in North America, an indication of fewer people eating out.

“The biggest hit for McDonald’s is the low-income consumer has really cut back on visits and that is more than offsetting the typical trade down McD normally sees in tougher economic times,” said Edward Jones analyst Brian Yarbrough.

U.S. comparable sales fell 0.7% in the quarter ended June 30, compared with a 10.3% jump a year ago. Sales in international markets, which made up nearly half its 2023 revenue, dropped 1.1%, driven by weakness in France.

McDonald’s sales drop globally

A slower-than-expected recovery in China and the Middle East conflict hurt the performance of McDonald’s business segment where restaurants are operated by its local partners, as sales declined 1.3% compared with a 14% jump a year earlier.

Effect of boycotts

Companies like McDonald’s and Starbucks have also suffered from consumer boycotts linked to the Gaza war, which hit their sales in the Middle East markets.

McDonald’s, however, stuck to its capital expenditure budget of up to $2.7 billion, with more than half of that earmarked for new restaurants in the U.S. and international markets.

It earned $2.97 per share on an adjusted basis in the second quarter, missing expectations of $3.07.

The post McDonald’s Reports Sales Decline Amid Consumer Shift in 3 Years appeared first on Industry Leaders Magazine.

Apple said on Monday that the artificial intelligence models underpinning Apple Intelligence, its AI system, were pretrained on processors designed by Google. This is a sign that Big Tech companies are looking for alternatives to Nvidia when it comes to the training of cutting-edge AI.

Apple AI models trained on Google

Apple’s choice of Google’s homegrown Tensor Processing Unit (TPU) for training was detailed in a technical paper just published by the company. Separately, Apple released a preview version of Apple Intelligence for some devices on Monday.

Apple AI training without Nvidia

Nvidia’s pricey graphics processing units (GPUs) dominate the market for high-end AI training chips, and have been in such high demand over the past couple years that they’ve been difficult to procure in the required quantities. OpenAI, Microsoft, and Anthropic are all using Nvidia’s GPUs for their models, while other tech companies, including Google, Meta, Oracle and Tesla are snapping them up to build out their AI systems and offerings.

Apple’s decision to rely on Google’s cloud infrastructure is notable because Nvidia produces the most sought-after AI processors. Including the chips made by Google, Amazon.com and other cloud computing companies, Nvidia commands roughly 80% of the market.

Companies overinvesting in AI infrastructure

Meta CEO Mark Zuckerberg and Alphabet CEO Sundar Pichai both made comments last week suggesting that their companies and others in the industry may be overinvesting in AI infrastructure, but acknowledged the business risk of doing otherwise was too high.

“The downside of being behind is that you’re out of position for like the most important technology for the next 10 to 15 years,” Zuckerberg said on a podcast with Bloomberg’s Emily Chang.

Apple using Google chips for AI

Apple doesn’t name Google or Nvidia in its 47-page paper, but did note its Apple Foundation Model (AFM) and AFM server are trained on “Cloud TPU clusters.” That means Apple rented servers from a cloud provider to perform the calculations.

“This system allows us to train the AFM models efficiently and scalably, including AFM-on-device, AFM-server, and larger models,” Apple said in the paper.

Apple said that to train its AI models, it used two flavors of Google’s tensor processing unit (TPU) that are organized in large clusters of chips. To build the AI model that will operate on iPhones and other devices, Apple used 2,048 of the TPUv5p chips. For its server AI model, Apple deployed 8,192 TPUv4 processors

Representatives for Apple and Google didn’t respond to requests for comment.

Apple Intelligence system

Apple was later to reveal its AI plans than many of its peers, which loudly embraced generative AI soon after OpenAI’s launch of ChatGPT in late 2022. On Monday, Apple introduced Apple Intelligence. The system includes several new features, such as a refreshed look for Siri, better natural language processing and AI-generated summaries in text fields.

Over the next year, Apple plans to roll out functions based on generative AI, including image generation, emoji generation and a powered-up Siri that can access the user’s personal information and take actions inside of apps.

This is the second technical paper about Apple’s AI system, after a more general version was published in June. Apple said at the time that it was using TPUs as it developed its AI models.

Apple is scheduled to report quarterly results after the close of trading on Thursday.

Stock update

Apple share price was up at $218.24 but at closing it fell to $217.19. Nvidia share price closed at $110.77 down 0.73%. Google share price was up at $171.13 today but closed lower at $169.73.

The post Apple Chooses Google Chips for AI Training, Sidestepping Nvidia appeared first on Industry Leaders Magazine.

The hearing getting adjourned for liquidation gave a breather to the embattled Chinese developer which is trying to finalize an offshore debt revamp plan.

Country Garden liquidation hearing for debt

The hearing on Monday, July 29 is the latest in County Garden’s legal wrangling with creditors. This is after Ever Credit, a unit of laminates maker Kingboard Holdings, filed a winding-up petition against it in February.

Ever Credit Limited, a unit of Hong Kong-listed Kingboard Holdings filed the liquidation petition against Country Garden in February for non-payment of a $205 million loan.

The developer defaulted on its $11 billion worth of offshore bonds last year.

The main purpose of a wind-up petition is to speed up the debt-restructuring process by forcing the defaulted company to come up with a repayment plan through negotiations with creditors. The builder said last month that work on its restructuring was continuing and that it had regularly addressed due diligence requests from bank creditors and a key group of bondholders.

Country Garden’s declining sales

Country Garden, once China’s largest developer by sales, continues to struggle amid a prolonged property crisis in the world’s second-largest economy. In June, Country Garden’s contracted sales plunged 73% to 4.3 billion yuan (S$797 million) from a year earlier, according to an exchange filing.

Country Garden grace period

After defaulting on U.S. dollar bonds last year, the distressed real estate giant in May made interest payments for two bonds within a grace period after missing an initial deadline earlier. The move averted a potential test of a Chinese programme to backstop distressed developers’ debt.

Country Garden has become one of the biggest casualties of China’s real estate crisis, with 1.4 trillion yuan of total liabilities, as per report. The Foshan-based developer suspended trade in its shares in the Hong Kong market in March after postponing the publication of its annual report.

Country Garden debt restructuring

A lawyer for Country Garden told the court on Monday that the developer expected to publish offshore debt restructuring term sheets in September, and that it planned to seek approval from the court on that arrangement early next year. 

The hearing into Country Garden’s liquidation petition comes against the backdrop of Chinese authorities stepping up efforts to revive the property sector after it slipped into an unprecedented debt crisis in mid-2021.

Real estate defaulters

Over the last couple of years, a growing list of developers have defaulted on their offshore debt repayment obligations. Many are facing liquidation lawsuits filed by creditors, with the latest being state-backed Sino-Ocean Group. A handful, including sector giant China Evergrande Group, have been ordered to be liquidated so far.

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This auto industry alliance is a strategic move that could significantly impact the future of automotive technology. Mitsubishi Motors stock rise was about 6.4% in late morning trade, while share price of Nissan rose 2.4% and Honda’s gained 2.7%.

Mitsubishi, Nissan, and Honda alliance

The automotive industry is undergoing a transformative shift towards electric vehicles (EVs) and advanced software platforms. Standardizing in-vehicle software is a critical step for automakers. By joining forces, Mitsubishi, Nissan, and Honda aim to streamline their efforts in developing cutting-edge software that controls various functions of modern cars.

Spokespeople for all three companies declined to comment.

Nissan and Honda said in March they were considering a strategic partnership to collaborate on producing electric vehicle components and artificial intelligence in automotive software platforms.

Auto industry alliance gives competitive edge

As per reports the three Japanese automakers are considering this collaboration to enhance their competitive edge. The reports suggest that the alliance will focus on standardizng software used in EVs and autonomous vehicles, potentially leading to cost reductions and improved efficiency.

Collaborations for AI and EV

Earlier this year, Nissan and Honda announced that they were exploring a strategic partnership to collaborate on producing EV components and developing artificial intelligence (AI) for automotive software platforms. This announcement set the stage for potential future collaborations, with Mitsubishi now reportedly joining the discussions.

A spokesperson for each of the three companies declined to comment on the ongoing talks. However, the prospect of such an alliance aligns with the broader industry trend of automakers teaming up to share technology and development costs.

Standardizing in-vehicle software future for automakers

Standardizing in-vehicle software is crucial as automakers transition to EVs and autonomous driving technologies. Currently, each manufacturer develops its own proprietary software, leading to increased costs and potential compatibility issues. Now Mitsubishi, Nissan, and Honda could leverage their collective expertise to create a unified platform that benefits all parties involved.

This collaboration could lead to more seamless integration of new technologies, faster development cycles, and reduced costs. For consumers, it means potentially more reliable and advanced vehicles with improved user experiences.

Investors upbeat for auto industry alliance

The rise in stock of Mitsubishi, Nissan, and Honda following the reports indicates strong investor confidence in the potential benefits of the alliance. Investors are likely optimistic about the cost-saving opportunities and the technological advancements that could arise from such a partnership.

For Mitsubishi, collaborating with Nissan and Honda could provide a significant boost in its efforts to remain competitive in the rapidly evolving automotive market. Mitsubishi’s stock rise reflects market sentiment that sees this potential alliance as a positive step towards future growth and innovation.

Stock update

Mitsubishi Motors’ share price rose by 6.4% in late morning trade, reflecting investor optimism. Nissan’s shares increased by 2.4%, while Honda’s shares gained 2.7%, indicating a broader market belief in the benefits of such an alliance.

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