Samsung Electronics expects its profits for the three months to June 2024 to jump 15-fold compared to the same period last year. An artificial intelligence (AI) boom has lifted the prices of advanced chips, driving up the firm's forecast for the second quarter. The South Korean tech giant is the world's largest maker of memory chips, smartphones and televisions. The announcement pushed Samsung shares up more than 2% during early trading hours in Seoul. The firm also reported a more than 10-fold jump in its profits for the first three months of this year. In this quarter, it said it is expecting its profit to rise to 10.4tn won ($7.54bn; £5.9bn), from 670bn won last year. That surpasses analysts' forecasts of 8.8tn won, according to LSEG SmartEstimate. "Right now we are seeing skyrocketing demand for AI chips in data centers and smartphones," said Marc Einstein, chief analyst at Tokyo-based research and advisory firm ITR Corporation. Optimism about AI is one reason for the broader market rally over the last year, which pushed the S&P 500 and the Nasdaq in the United States to new records on Wednesday. The market value of chip-making giant Nvidia surged past $3tn last month, briefly holding the top spot as the world's most valuable company. "The AI boom which massively boosted Nvidia is also boosting Samsung's earnings and indeed those of the entire sector," Mr Einstein added. Samsung Electronics is the flagship unit of South Korean conglomerate Samsung Group. Next week, the tech company faces a possible three-day strike, which is expected to start on Monday. A union of workers is demanding a more transparent system for bonuses and time off.

A children's hospital in the Ukrainian capital was hit by a Russian missile on Monday as part of a wave of airstrikes across Ukraine that has killed at least 31 people and injured 154 others. "Russian terrorists have once again launched a massive missile attack on Ukrainian cities - Kiev, Dnipro, Kryvyi Rih, Slaviansk, Kramatorsk," said Ukrainian President Volodymyr Zelenskyy. Zelensky said Russia fired more than 40 missiles of different types at the five cities in daytime attacks, hitting residential buildings and public infrastructure. The Ukrainian air force said it intercepted 30 missiles. Authorities said the attack on Kiev killed seven people, while the attack on Kryvyi Rih, Zelensky's birthplace in central Ukraine, killed 10 and injured 47. United Nations Secretary-General António Guterres condemned the attacks, calling the assault on the Kiev hospital and another medical facility in the capital's Dniprovsky district "particularly egregious," said his spokesman, Stephane Dujarric. "Direct attacks on civilians and civilian objects are prohibited under international humanitarian law. Any such attacks are unacceptable and must cease immediately," Dujarric said. The U.N. Security Council will meet Tuesday to discuss the Russian strikes, diplomats said. The Russian Defense Ministry said the strikes targeted Ukrainian defense factories and a military aviation base and were successful. It denied striking any civilian facilities and claimed, without evidence, that photos from Kiev showed the damage was caused by a Ukrainian anti-aircraft missile. Ukrainian Air Force Colonel Yurii Ignat said Russia has been improving the effectiveness of its air strikes by equipping its missiles with enhanced features, including so-called heat decoys that can throw air defense systems off target. In comments sent to The Associated Press, he said the cruise missiles flew low in Monday's attack -- just 50 meters off the ground -- making them harder to hit. Western countries, led by the United States, have provided Ukraine with billions of dollars in arms support. They will hold a three-day NATO summit in Washington starting Tuesday to work out how to reassure Kiev of NATO's strong support and give Ukrainians hope that their country can survive the largest conflict in Europe since World War II. "Today's Russian missile strike that killed dozens of Ukrainian civilians and caused damage and loss of life to Kyiv's largest children's hospital is a horrifying reminder of Russia's brutality," U.S. President Joe Biden said in a statement Monday. "It is critical that the world continues to stand with Ukraine at this important moment and that we do not ignore Russian aggression." Biden said in the statement that he will meet with President Zelensky during the NATO summit in Washington this week "to make clear our unwavering support for Ukraine." Biden continued: "We will join our allies in announcing new measures to strengthen Ukraine's air defenses and help protect their cities and civilians from Russian attacks. The United States stands with the Ukrainian people." Czech President Petr Pavel said the hospital attack was "inexcusable" and he hoped the NATO summit would reach a consensus that Russia is "the greatest threat and we must be fully prepared to deal with it." Zelensky said during a visit to Poland that he hoped the NATO summit would provide Ukraine with more air defense systems. The Ukrainian leader said rescuers were digging through the rubble of the Ohmatdit Children's Hospital in Kyiv and that the number of casualties was not yet known. Kyiv Mayor Vitali Klitschko said at least 16 people were injured, including seven children, and the attack caused a two-story wing of the hospital to partially collapse. Doors and windows were blown off the hospital's 10-story main building, and the walls were charred. The floor of one room was splattered with blood. Hospital officials said the intensive care unit, operating room and oncology department were damaged.

Apple could be on track to reach a $4 trillion market capitalization with the artificial intelligence (AI) iPhone 16 upgrade cycle coming, Wedbush analysts said. The analysts said the iPhone 16 supercharged with AI could bring a "golden upgrade cycle" for Apple. Apple's recently announced iOS 18 with Apple Intelligence and OpenAI partnership are also expected to create monetization opportunities and increase share value. Apple (AAPL) could be on the path to a $4 trillion market capitalization as an iPhone upgrade cycle approaches, driven by the iPhone 16 supercharged with artificial intelligence (AI) capabilities, according to Wedbush analysts. 1 Apple's recently announced iOS 18 with Apple Intelligence and OpenAI partnership are also expected to create monetization opportunities and increase share value. AI iPhone 16 Upgrade Cycle Coming Soon Wedbush analyst said that an AI iPhone 16 could bring "a golden upgrade cycle for Cupertino looking ahead with pent-up demand building globally." "The Street is now starting to slowly recognize that with Apple Intelligence on the doorstep in essence Cupertino will be the gatekeepers of the consumer AI Revolution," they said, with 2.2 billion iOS devices globally and 1.5 billion iPhones. Wedbush suggested a "consumer AI tidal wave" could start with the iPhone 16 in mid-September, adding that estimates indicate 270 million iPhones users have not upgraded in over four years. Recovery in China To Support Upgrade Cycle The analysts indicated that iPhone supply stabilization in Asia is also "a very good sign heading into a monumental iPhone 16 upgrade cycle." Wedbush's projections come amid ongoing concerns for the iPhone maker in the China region amid increased competition, though there have been recent signs of improving shipments. They projected that June "will be the last negative growth quarter for China with a growth turnaround beginning in the September quarter," when the iPhone 16 is expected to be released. AI and iOS 18 Could Also Boost Share Value Apple unveiled iOS 18 supercharged by Apple Intelligence and an AI partnership with OpenAI at its developers' conference in June. Wedbush analysts said the partnership with the Chat-GPT maker "creates the highway for developers around the globe to focus on iOS 18 and this in turn will create a myriad of monetization opportunities for Cook & Co. over the coming years." The analysts estimated that "this could result in incremental Services high margin growth annually of $10 billion for Apple" driven by hardware and software. They added they believe "AI technology being introduced into the Apple ecosystem will bring monetization opportunities on both the services as well as iPhone/hardware front and adds $30 to $40 per share." Apple shares were little changed in early trading Monday, though they have gained more than 17% since the start of the year. Do you have a news tip for Investopedia reporters? Please email us at tips@investopedia.com SPONSORED Trade on the Go. Anywhere, Anytime One of the world's largest crypto-asset exchanges is ready for you. Enjoy competitive fees and dedicated customer support while trading securely. You'll also have access to Binance tools that make it easier than ever to view your trade history, manage auto-investments, view price charts, and make conversions with zero fees. Make an account for free and join millions of traders and investors on the global crypto market.

The Sun is extremely active right now, blasting the Earth with the biggest solar storms in 20 years. This is what it is doing to the rest of the Solar System. If you happened to look skywards on a few nights in May 2024, there was a good chance of seeing something spectacular. For those at relatively low latitudes, there was a rare chance to see the flickering red, pink, green glow of our planet's aurorae. A powerful solar storm had sent bursts of charged particles barrelling towards Earth and, as they bounced around in our planet's atmosphere, they unleashed spectacular displays of the Northern and Southern Lights. The dazzling displays of aurora borealis were visible far further south than they might normally be – and far further north in the case of aurora australis thanks to the power of the geomagnetic storm, the strongest in two decades. Although some people experienced only a faint, eerie glow, others were treated to a myriad of colour as far south as London in the UK and Ohio in the US. Reports even came in from just to the north of San Francisco, California. But while this spike in activity from the Sun left many on Earth transfixed by the light display it produced, it has also had a profound effect elsewhere in the Solar System. As most of us wondered at the colours dancing across the night's sky, astronomers have been peering far beyond to see the strange ways such intense bursts of particles affect other planets and the space between them. "The Sun can fire material outwards in any direction like a garden sprinkler," says Jim Wild, a professor of space physics at Lancaster University in the UK. "The effects are felt throughout the Solar System." Our Sun is currently heading towards, or has already reached, its solar maximum – the point in an 11-year cycle where it is most active. This means the Sun produces more bursts of radiation and particles from solar flares and events known as coronal mass ejections (CMEs). If these are sprayed in our direction, they can supercharge the Earth's magnetic field, causing magnificent aurorae but also posing problems for satellites and power grids. "Things really seem to be picking up right now," says Mathew Owens, a space physicist at the University of Reading in the UK. "I think we're about at solar maximum now, so we may see more of these kinds of storms in the next couple of years." Around the Sun, multiple spacecraft are observing this increase in activity up close. One of those, the European Space Agency's (Esa) Solar Orbiter, has been studying the Sun since 2020 on an orbit that takes it within the path of Mercury. Currently the spacecraft is "on the far side of the Sun as seen from Earth", says Daniel Müller, project scientist for the Solar Orbiter mission at Esa in the Netherlands. "So we see everything that Earth doesn't see." The storm that hit Earth in May originated from an active region of solar flares and sunspots, bursts of plasma and twisting magnetic fields on the Sun's surface, known as its photosphere. Solar Orbiter was able to see "several of the flares from this monster active region that rotated out of Earth's view", says Müller, bright flashes of light and darkened regions called sunspots on the Sun's surface. One of the goals of Solar Orbiter is "to connect what's happening on the Sun to what's happening in the heliosphere," says Müller. The heliosphere is a vast bubble of plasma that envelops the Sun and the planets of the Solar System as it travels through interstellar space. What Müller and his colleagues hope to learn more about is where the solar wind – the constant stream of particles spilling out from the Sun across the Solar System – "blows into the interstellar medium", he says. "So we are particularly interested in anything energetic on the Sun that we can find back in the turbulence of the solar wind." This particular cycle, cycle 25, appears to be "significantly more active than what people predicted", says Müller, with the relative sunspot number – an index used to measure the activity across the visible surface of the Sun – eclipsing what was seen as the peak of the previous solar cycle. The National Oceanic and Atmospheric Administration (Noaa) in the US had predicted a maximum monthly average of 124 sunspots a day in May, but the actual number was 170 on average, with one day exceeding 240, according to Müller. But the exact cause of the Sun's 11-year-long cycle and its variabilities remains a bit of a mystery. • Alien aurora: The strange displays that light up other worlds • Why Einstein was wrong about black holes • The Moon is slipping away from the Earth – and our days are getting longer The effects of these changes in solar activity, however, extend far across the Solar System. Earth is not the only planet to be hit by solar storms as they billow across interplanetary space. Mercury, the closest planet to the Sun, has a much weaker magnetic field than Earth – about 100 times less – and lacks a substantial atmosphere. But solar activity can cause the surface of the planet to glow with X-rays as solar wind rains down. Venus also lacks a substantial magnetic field, but the planet does still create auroras as the solar wind interacts with the planet's ionosphere. At Mars, the effect of solar activity is more obvious. Here, a Nasa spacecraft called Maven (Mars Atmosphere and Volatile Evolution) has been studying the planet's atmosphere from orbit since 2014. "We were on the declining side of solar cycle 24 [then]," says Shannon Curry, a planetary scientist at the University of Colorado, Boulder in the US and the lead on the mission. "We are now coming up on the peak of cycle 25, and this latest series of active regions has produced the strongest activity Maven has ever seen." Between 14 and 20 May the spacecraft detected exceptionally powerful solar activity reaching Mars, including an X8.7 – solar flares are ranked B, C, M, and X in order from weakest to strongest. Results from the event have yet to be studied, but Curry noted that a previous X8.2 flare had resulted in "a dozen papers" published in scientific journals. Another flare on 20 May, later estimated to be an even bigger X12, hurled X-rays and gamma rays towards Mars before a subsequent coronal mass ejection launched a barrage of charged particles in the same direction. Images beamed back from Nasa's Curiosity Rover on Mars revealed just now much energy struck the Martian surface. Streaks and dots caused by charged particles hitting the camera's sensors caused the images to "dance with snow", according to a press release from Nasa. Maven, meanwhile, captured glowing aurora as the particles hit the Mars' atmosphere, engulfing the entire planet in an ultraviolet glow. The flares can cause the temperature of the Martian atmosphere to "dramatically increase," says Curry. "It can even double in the upper atmosphere. The atmosphere itself inflates. The entire atmosphere expands dozens of kilometres – exciting for scientists but detrimental for spacecraft, because when the atmosphere expands there's more drag on the spacecraft." The expanding atmosphere can also cause degradation of the solar panels on spacecraft orbiting Mars from the increase in radiation. "The last two flares caused more degradation than what a third of a year would typically do," says Curry. Mars, while it has lost most of its magnetic field, still has "crustal remnant magnetic fields, little bubbles all over the southern hemisphere", says Curry. During a solar event, charged particles can light those up and excite particles. "The entire day side lights up in what we call a diffuse aurora," says Curry. "The entire sky glows. This would most likely be visible to astronauts on the surface." By the time solar storms reach further out into the solar system, they tend to have dissipated but can still have an impact on the planets they encounter. Jupiter, Saturn, Uranus, and Neptune all have aurorae that are in part driven by charged particles from the Sun interacting with their magnetic fields. But one of the key effects of solar activity on interplanetary space that astronomers are eager to study is something called "slow solar wind", a more sluggish, but denser stream of charged particles and plasma from the Sun. Steph Yardley, a solar astronomer at Northumbria University in the UK, says solar wind is "generally classed about 500km/s (310 miles/s)", but slow wind falls below this. It also has a lower temperature and tends to be more volatile. Recent work by Yardley and her colleagues, using data from Solar Orbiter, suggests that the Sun's atmosphere, its corona, plays a role in the speed of the solar wind. Regions where the magnetic field lines, the direction of the field and charged particles are "open" – stretching out into space without looping back – provide a highway for solar wind to reach high speeds. Closed loops over some active regions – where the magnetic field lines have no beginning and end – can occasionally snap, producing slow solar wind. The variability in the slow solar wind seems to be driven by the unpredictable flow of plasma inside the Sun, which makes the magnetic field particularly chaotic. The X-class flares and coronal mass ejections seen in May transformed the interplanetary medium as they flung out material across the solar system. Solar Orbiter detected a huge spike in ions moving at thousands of kilometres per second immediately after the 20 May flare. Computers on board other spacecraft – the BepiColombo probe, which is currently on a seven-year journey to Mercury, and Mars Express, in orbit around the Red Planet – both saw a dramatic increase in the number of memory errors caused by the high energy solar particles hitting the memory cells. The day after the coronal mass ejection, magnetometers on board the Solar Orbiter also saw large swings in the magnetic field around the spacecraft as a huge bubble of plasma made up of charged particles thrown out from by the event washed past it at 1,400km/s (870 miles/s). Increased solar activity is a boon for scientists. "If you track the number of papers produced by solar physicists, you can almost see an 11-year cycle in there," says Owens. "We are all more scientifically productive when there's a lot of activity to study." As the Sun continues into solar maximum, the Solar System will see more and more activity streaming from its surface. Yet while all the planets witness at least some of the activity, our planet bears the brunt more than most. "Earth is slightly unique in that space weather can have interesting effects on human technologies," says Wild. "There's an extra dimension here on Earth." Perhaps one day those anthropogenic effects might be felt elsewhere, too. "If you're going to fly to Mars and you have a six-month flight through the interplanetary environment, you're going to potentially suck up a lot of space weather events," says Wild. "How you protect your astronauts is an interplanetary issue that we need to get our heads around."

United Airlines confirmed that a tire fell off a Boeing 757 passenger plane when it took off from Los Angeles International Airport in the early morning of July 8, local time. It is reported that there has been no report of any material damage or casualties in this accident. United Airlines said in a statement that the aircraft tire has been found and the investigation is ongoing. There were 174 passengers and 7 crew members on the flight involved. The flight left Los Angeles International Airport at around 7:15 on July 8 and flew to Denver. Unlike the aircraft tire falling incident on a United Airlines flight in March, the pilot of this flight continued the journey to Denver and landed smoothly there.