832 days ago • Posted by Ajmir Omid
#Samsung Q4 profit likely over 52.5% #chips #tech# $SMH trading
Technology giant Samsung electronic shares jumped 1.82% after an early update by the company stating that its Q4 profits are likely to be 52% higher, estimated to be around USD11.5 billion, boosted by record sales in the quarter, estimated to be up 23.5%. Price of memory chips have been running higher for 3 consecutive quarters until Oct 2021, according to an analyst. The increased reliance of the world on digital solutions has boosted demand for chips. And this is not to change any time soon. The ETF fund that invest in stocks of US-listed semiconductor companies, SMH, is up more than 40% since Jan 2021.
