Micron Technology shares caught fire this week amid a global shortage of memory chips. The stock is heading for its best week since 2008.
Samsung Electronics' shares dropped nearly 7% despite record Q2 earnings and profit, as concerns over AI infrastructure spending, labor union demands, and a new fabrication plant location overshadowed the results. Analysts noted that the stock had already priced in the strong performance, leading to a sell-off upon confirmation.
Samsung Electronics' shares dropped 9.6% despite record Q2 earnings of 89.4 trillion won. Concerns over AI spending sustainability, labor union demands, government profit sharing, and an unusual new semiconductor plant location overshadowed the strong financial results, with analysts citing profit-taking and rotation appetite towards SK Hynix's ADR listing.
Samsung Electronics forecasts a 19-fold increase in profits for the April-June quarter, driven by soaring global demand for AI memory chips. Sales are expected to exceed 171tn won, marking a record quarterly performance.
Samsung Electronics forecasts a 19-fold increase in profits for the April-June quarter, driven by high global demand for AI memory chips. The company expects to post 89tn won in operating profits, marking its third consecutive record quarter, as semiconductor prices rise due to supply shortages.
Jim Cramer advised investors not to fear market rotations, viewing them as opportunities to buy high-quality stocks at a discount. He highlighted PepsiCo, Starbucks, Constellation Brands, TJX Companies, and Johnson & Johnson as appealing buys following recent pullbacks.
The stock market saw gains as technology and financial sectors rebounded. Honeywell's split companies showed divergent performance, with Aerospace outperforming Technologies. Major banks like Goldman Sachs and Wells Fargo rallied ahead of Q2 earnings season, with Goldman Sachs noted for its strong M&A advisory role.
