Samsung, SK hynix shares tumble amid business uncertainty despite robust earnings outlook

samsung sk hynix shares tumble amid business uncertainty despite robust earnings outlook

Sumary of Samsung, SK hynix shares tumble amid business uncertainty despite robust earnings outlook:

  • 14 (Yonhap) — Shares of South Korea’s two chipmakers — Samsung Electronics Co. and SK hynix Inc. — have withered in recent days despite upbeat news that they are going to post record quarterly sales backed by brisk memory chip businesses.
  • In its third-quarter earnings guidance released earlier this month, Samsung Electronics said its operating profit jumped to a three-year high and it logged record sales for the three months that ended in September on improved profitability in both its chip and smartphone businesses.
  • SK hynix, the world’s second-biggest memory chip maker, is also projected to announce record quarterly earnings bolstered by strong memory demand, rising memory chip prices and favorable currency exchange rates.
  • The company is expected to post record sales of 11.8 trillion won in the third quarter, up 46 percent from a year earlier, while operating profit is expected to more than triple to 4.1 trillion won.
  • SK hynix and Samsung Electronics are set to announce their third quarter earnings results on Oct.
  • Industry tracker TrendForce warned DRAM prices will begin to fall by 15 to 20 percent annually in the fourth quarter and enter a downward trend early next year, as supply is expected to outstrip demand.
  • “DRAM contract prices are likely to exit a bullish period that lasted three quarters and be on the downswing,” it said in a report released Tuesday.
  • “This decline can be attributed to not only the declining procurement activities of DRAM buyers going forward, but also the drop in DRAM spot prices ahead of contract prices,” it added.

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