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Samsung Estimates 10-fold Rise in First-quarter Profit as Chip Prices Recover
Samsung Electronics estimates 10-fold Rise in first-quarter operating profit as chip prices have started to recover.
Samsung has estimated that its operating profit rose to a better-than-expected 6.6 trillion won ($4.89 billion) in the quarter ended March 31.
The chip prices have started to rebound from a severe downturn due to a boom in artificial intelligence.
The bullish outlook for memory chip demand, including chips such as high-bandwidth memory (HBM) has driven a 34% rise in Samsung shares.
Since operating profit beat expectations, the inventory valuation of NAND flash chips may have improved, said an analyst at Korea Investor Relations Service.
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