Today we must talk about the horrible Samsung pre reported earnings numbers they came out with last night. We must also talk about some big Tesla news stories that have come out the past few days.
In regards to Samsung they are going to miss revenue and earnings estimates in a massive way. Samsung DRAM business is very weak as well as their smartphone business which is down substantially year over year. This is the worst quarter Samsung has reported in quite a while with the misses being huge.
In regards to Tesla we have to talk about Larry Ellison joining the Tesla board of directors! This is big news for Tesla shareholders as well as Elon Musk since Larry Ellison and Elon Musk are friends. Larry Ellison has also disclosed he has a 1 billion dollar ownership stake in Tesla. Larry Ellison owns 3 million Tesla shares from what we can see. Tesla has also started contraction of the shanghai Gigafactory! There is talk that the Tesla Shanghai Gigafactory could be up and running within 6 months at partial capacity. That would be insane!
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