Samsung's Q3 Profit Guidance Tops Analyst Estimates As AI Demand Outstrips Memory Supply
Samsung Electronics Co. Ltd. (OTC: SSNLF ) on Wednesday guided for a rise in third-quarter profit and sales as artificial intelligence demand for memory chips tightens supply across the industry, though its shares in Seoul slipped less than 1%. Profit And Sales Jump Again The world’s largest memory chipmaker expects third-quarter sales to reach about KRW 195 trillion ($145.76 billion), up from KRW 171.5 trillion ($128.22 billion) in the second quarter and KRW 86.06 trillion ($64.35 billion) in the same period last year. It forecasts operating profit of about KRW 107.40 trillion ($80.30 billion) for the three months ending in September, up from KRW 89.49 trillion ($66.92 billion) in the second quarter and KRW 12.17 trillion ($9.10 billion) a year earlier. Analysts expect it to be KRW 106.1 trillion ($79.33 billion), (NASDAQ: SKHY ), and Micron Technology Inc. (NASDAQ: MU ) are the leaders in memory chips, and all three are benefiting from AI demand for high
Samsung Electronics Co. Ltd. (OTC: SSNLF ) on Wednesday guided for a rise in third-quarter profit and sales as artificial intelligence demand for memory chips tightens supply across the industry, though its shares in Seoul slipped less than 1%. 35 billion) in the same period last year.
10 billion) a year earlier. 33 billion), (NASDAQ: SKHY ), and Micron Technology Inc. (NASDAQ: MU ) are the leaders in memory chips, and all three are benefiting from AI demand for high-bandwidth memory, which AI accelerators need to process complex workloads. ” Samsung Widens Its AI Chip Reach OpenAI is reportedly deepening its Samsung ties, with Harrison Kim of OpenAI Korea saying in September that the two are co-developing next-generation chips, according to a Reuters report.
In August, Samsung raised prices for some advanced chipmaking services by up to 15% for new orders as AI demand filled its production lines. The latest announcement includes only topline figures. Samsung will release detailed third-quarter results, with division breakdowns, on Oct. 29.
07). 64%. According to Edge rankings, Micron’s stock has a Momentum score in the 99th percentile and a Growth score in the 93rd percentile. See More: Top Growth Stocks Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.
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